The case involves a contempt petition filed by Hemant Kanoria, a shareholder and former director of SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL), against several respondents, including Punjab & Sind Bank, UCO Bank, Axis Bank, and KPMG, for allegedly violating an order of the Adjudicating Authority. The applicant sought to set aside the appointment of KPMG for forensic audit and restrain banks from proceeding with the audit process.
Hemant Kanoria, a shareholder and former director of SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL), filed a contempt petition.
The petition alleged violation of an order dated 07 February 2022 passed by the Adjudicating Authority.
The respondents included Punjab & Sind Bank, UCO Bank, Axis Bank, and KPMG Assurance and Consulting Services LLP.
The applicant sought to set aside the appointment of KPMG for forensic audit and restrain banks from proceeding with the audit process.
SIFL and SEFL are under Corporate Insolvency Resolution Process (CIRP) from 08 October 2021.
BDO India LLP was appointed as the transaction auditor of SEFL and SIFL under the Code on 02 November 2021.
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Axis Bank Limited and…
SIFL and SEFL are under…
The case involves a contempt petition filed by Hemant Kanoria, a shareholder and former director of SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL), against several respondents, including Punjab & Sind Bank, UCO Bank, Axis Bank, and KPMG, for allegedly violating an order of the Adjudicating Authority. The applicant sought to set aside the appointment of KPMG for forensic audit and restrain banks from proceeding with the audit process.
Hemant Kanoria, a shareholder and former director of SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL), filed a contempt petition.
The petition alleged violation of an order dated 07 February 2022 passed by the Adjudicating Authority.
The respondents included Punjab & Sind Bank, UCO Bank, Axis Bank, and KPMG Assurance and Consulting Services LLP.
The applicant sought to set aside the appointment of KPMG for forensic audit and restrain banks from proceeding with the audit process.
SIFL and SEFL are under Corporate Insolvency Resolution Process (CIRP) from 08 October 2021.
BDO India LLP was appointed as the transaction auditor of SEFL and SIFL under the Code on 02 November 2021.
…Axis Bank Limited and…
SIFL and SEFL are under…