RBI supersedes Srei Infra, SEFL's board after payment defaults
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/966fffca4bf4d4ba64dce5a3f3c81b3e.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The Reserve Bank on Monday superseded the board of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL).
The two boards were superseded owing to governance concerns and defaults by these companies in meeting their various payment obligations.
The RBI appointed Bank of Baroda's former Chief General Manager Rajneesh Sharma as the administrator of these companies.
"The Reserve Bank also intends to shortly initiate the process of resolution of the above two NBFCs under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019....
"... and would also apply to the NCLT for appointing the Administrator as the Insolvency Resolution Professional," the central bank said in a statement.
![](https://portfolio.investmentguruindia.com/uploads/news/nirmalabudget23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Anuj Gupta_Commodity.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/unionB23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nirmalaS22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _11.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/StockMarket23.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c5541407585e9dfdc52f905c92d59e61.jpg)
Monthly Debt Market Update, September 2023: CareEdge Ratings
![Quote on RBI decision to discontinue the incremental cash reserve ratio (CRR) By Dr. Manoranjan Sharma, Infomerics Ratings](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/3fb5395769079c26d9056714d034c581.jpg)
![Governance mechanism, customer-centricity can help in fintech ecosystem sustainable growth: Ajay Chaudhary](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/07e25a74a16d5c092d179215565d0295.jpg)
![3 Centres of Excellence set up by TIDCO finding good traction: Tamil Nadu Minister](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/e6ff15c8d3a72074f69cb881ab6584e7.jpg)