Sources said the NCLT has appointed Rajneesh Sharma as administrator to run the firms
According to sources, the NCLT on Friday accepted the insolvency petitions filed by banking sector regulator RBI against two Shreya group firms and appointed an administrator.
The two-member Kolkata Bench allowed two separate petitions filed by the RBI for initiating the corporate insolvency resolution process against two non-banking financial firms Srei Infrastructure Finance and Srei Equipment Finance Ltd.
Sources said the NCLT has appointed Rajneesh Sharma as administrator to run the firms.
Both entities owe over Rs 30,000 crore to lenders.