Srei Group: Fraud of Rs 3025 crore reported in FY20 and FY21

Monetary Impact

'The Biggest' Largest Financial Transaction Auditor in India has issued a report on a fraud

Fraud Transactions

The Reserve Bank of India (RBI) Superseded the Boards of Srei Infrastructure Finance

Who is the CEO

Rajneesh Sharma, ex-chief general manager, Bank of Baroda, was appointed as the administrator to look into the affairs of the Srei group companies.

Share price gone down

The price of seri shares has decreased from previous month close.

The Srei group companies, which are undergoing corporate insolvency resolution process, came under duress during the Coronavirus-induced lockdown

BDO or transaction auditor

SEFL filed this under the SIFL name.

Fraudulent Transactions

certain transactions have been detected during the current fiscal year which were unauthorized

Rs 513.67 crore is the amount

In a statement issued by the company, the firm said it has paid a sum of Rs 536.06 crore towards power trust tax, amounting to 33 per cent of "the Notional Loss".

Impact of Payment

The total impact of the transaction (excluding interest payment calculations) is approximately Rs 3,025.73 crore".

Stay Updated With
Our Latest News!

Click here >>>>