Furious, These lenders went to India’s central financial institution seeking an intervention. In Oct 2021, the central bank utilised its prerogative as economical regulator to oust Srei’s board and power Hemant Kanoria, then chair, into early retirement.
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There are numerous attorneys since there are many functions to the situation, like Srei’s former homeowners, its existing administrators and several creditors. All of them are right here, in India’s oldest lawful centre, helping set the place’s landmark personal bankruptcy legislation on the examination.
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