Srei CoC offers window for resolution applicants to revise bids by Dec 15 ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 22
The Consolidated Committee of Creditors (CoC) of two debt-ridden Srei companies are likely to ask bidders to improve their resolution plans by December 15, a top official said on Sunday. The CoC, however, remains committed to the January 5 (2023) deadline offered by the adjudicating authority to complete the corporate insolvency resolution process, he said. The Kolkata-based Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL), which are undergoing a resolution process in the National Company Law Tribunal (NCLT), have received three bids. "Intense negotiations are taking place with each of the bidders, and after another meeting slated on December 12, bidders will be o

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