Srei promoters move Bombay HC

Promoters of Srei Infrastructure Finance and Srei Equipment Finance have moved the Bombay High Court challenging the Reserve Bank of India’s decision to supersede the boards of the Kolkata-based NBFCs.

RBI supersedes boards of two debt-laden Srei companies

According to sources, the promoters have sought a stay on the proceedings. The case is expected to come up on Thursday.

Srei Infra and Equipment Finance have debt obligations of over ₹29,000 crore