For over 30 years, Srei had successfully offered solutions to its customers in Asset Finance & Leasing in the infrastructure sector. It was the most significant player in its segment.
On October 4, 2021, the Reserve Bank of India superseded the boards of Srei Infrastructure Finance Limited (SIFL) & Srei Equipment Finance Limited (SEFL).
The apex bank appointed former Chief General Manager, Bank of Baroda, Mr Rajneesh Sharma as the Administrator for SIFL & SEFL.
RBI also appointed a three-member advisory committee to assist Mr Sharma.
At present, SIFL and SEFL are under Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016, vide Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench Order dated October 8, 2021.
Currently, under the guidance of Mr Rajneesh Sharma, Srei is striving to transform itself into a profitable company in the true sense. The focus is on improving collections and resolution of major assets.