SREI Capital surrenders registration certificate as merchant banker to SEBI
This story was originally published at 12:31 IST on 17 December 2024
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MUMBAI – SREI Capital Markets Ltd. has surrendered its certificate of permanent registration as a merchant banker to the Securities and Exchange Board of India, the company said on Tuesday. "Any person desirous of providing objections in respect to the said surrender should send their objections (to the company) within thirty days from the date of the notice," the company said in a public notice.
SREI Capital Markets is a wholly owned subsidiary of SREI Infrastructure Finance Ltd., which is under insolvency proceedings. In 2021, the Kolkata bench of the National Company Law Tribunal had admitted insolvency proceedings against SREI Infrastructure Finance and SREI Equipment Finance Ltd. on a petition by the Reserve Bank of India.
In August 2023, the tribunal had approved the government-owned National Asset Reconstruction Co. Ltd.'s resolution plan of INR 148.67 billion for SREI Infrastructure Finance and SREI Equipment Finance. The asset reconstruction company acquired SREI Equipment Finance and SREI Infrastructure Finance in December that year. End
Reported by Ashna Mariam George
Edited by Ashish Shirke
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