Arena-Varde Partners, NARCL and Authum submit final bids for Srei companies

Arena-Varde Partners, National Asset Reconstruction Company and Mumbai-based financial services firm, Authum have submitted final bids for Srei companies.

Srei Infrastructure Finance and Srei Equipment Finance were admitted for bankruptcy following applications filed by the Reserve Bank of India in October 2021 after the boards of companies were superseded by the central bank and an appointed administrator. Forty-four lenders have made claims of Rs 32,750 crore against the companies.

Mumbai-based Authum Investment has already won the race to acquire Reliance Home Finance and Reliance Commercial Finance -- two subsidiaries of bankrupt Reliance Capital. A source in Authum said financial services