Srei's Kanoria urges RBI guv not to accept KPMG report
Business Standard|April 08, 2022
Srei Founder Hemant Kanoria has written to Reserve Bank of India Governor Shaktikanta Das, urging him to advise banks and lenders not to act against the two Srei companies based on "inconclusive" findings in the KPMG forensic report.
ISHITA AYAN DUTT
Srei's Kanoria urges RBI guv not to accept KPMG report

Sources said Kanoria has pointed out to the RBI that any action on the basis of the "improper” report may hamper the resolution process being undertaken by the administrator appointed by RBI under Insolvency and Bankruptcy Code (IBC).

The letter – dated March 17 –comes at a time when the matter is pending before the Kolkata Bench of the National Company Law Tribunal (NCLT). Kanoria had moved an application challenging the KPMG report in January.

Sources indicated that in the letter Kanoria has said any step taken on the basis of the KPMG report is likely to affect the revival process of the two companies (Srei Infrastructure Finance and Srei Equipment Finance) under the IBC process.

This story is from the April 08, 2022 edition of Business Standard.

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This story is from the April 08, 2022 edition of Business Standard.

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