Hemant Kanoria

Concerted effort to financially kill group by using auditors to mis-categorise transactions: Srei promoter

Sources say he has pointed out that any action based on "improper" report may hamper ongoing resolution process being undertaken by RBI's administrator under IBC

In an application moved on Jan 19, he sought setting aside appointment of KPMG by Axis Bank and UCO Bank (lead banks in consortium of lenders) as auditor for SREI

Time period starts from red-flagging of the account, they argue

Jan 19 application filed by Kanoria cited an issue of parallel auditing in the wake of CIRP (corporate insolvency resolution process) in SREI

In the past three decades, the Kanorias have weathered many a crisis, including the NBFC crisis of the 1990s and the global financial crisis in 2008-09

The matter will be heard on October 7

But those in the know say that trouble at Srei had been brewing for a while now

In a Q&A, the company's chairman says the firm had to freeze interest payment and redemption of NCDs due to the pandemic and related regulatory approach

Businesses have their cycles and problems and the lenders must take decisions on a case by case basis, says Srei chief Hemant Kanoria

Hemant Kanoria, Chairman and managing director of Srei Infrastructure Finance, tells Ishita Ayan Dutt & Namrata Acharya, there must be an alignment between states and the Centre to recover stressed as

Over salad and sandwiches, the CMD of Srei Infra tells Niraj Bhatt why understanding the dynamics of the borrower's business is critical for the lender

Interview with CMD, Srei Infrastructure