The Reserve Bank of India (RBI), as the Appropriate Regulator, filed an application under Section 227 read with Section 239(2)(zk) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The application was filed due to defaults committed by SIFL in relation to financial debt availed from various financial creditors. UCO Bank intimated that SIFL defaulted on a working capital demand loan facility amounting to ₹165,56,30,967.99, with a principal amount of ₹150.00 crore and interest of ₹15,56,30,967.99. The RBI superseded the Board of Directors of SIFL and appointed Mr. Rajneesh Sharma as the Administrator.
The Reserve Bank of India (RBI), acting as the Appropriate Regulator, filed a petition under Section 227 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The RBI's application was based on SIFL's defaults in repaying financial debts to various creditors. UCO Bank reported that SIFL defaulted on a working capital demand loan facility amounting to ₹165,56,30,967.99, including a principal amount of ₹150.00 crore and interest of ₹15,56,30,967.99. The date of default for the principal sum was 13/02/2021, and for the interest amount, it was 01/11/2020. The RBI superseded SIFL's Board of Directors on 04/10/2021 and appointed Mr.
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The Reserve Bank of India (RBI), as the Appropriate Regulator, filed an application under Section 227 read with Section 239(2)(zk) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The application was filed due to defaults committed by SIFL in relation to financial debt availed from various financial creditors. UCO Bank intimated that SIFL defaulted on a working capital demand loan facility amounting to ₹165,56,30,967.99, with a principal amount of ₹150.00 crore and interest of ₹15,56,30,967.99. The RBI superseded the Board of Directors of SIFL and appointed Mr. Rajneesh Sharma as the Administrator.
The Reserve Bank of India (RBI), acting as the Appropriate Regulator, filed a petition under Section 227 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The RBI's application was based on SIFL's defaults in repaying financial debts to various creditors. UCO Bank reported that SIFL defaulted on a working capital demand loan facility amounting to ₹165,56,30,967.99, including a principal amount of ₹150.00 crore and interest of ₹15,56,30,967.99. The date of default for the principal sum was 13/02/2021, and for the interest amount, it was 01/11/2020. The RBI superseded SIFL's Board of Directors on 04/10/2021 and appointed Mr.
…Date of default with…
Date of default with…