NCLT admits RBI's insolvency petition against SREI firms

12 Oct 2021 CW Team

National Company Law Tribunal (NCLT) has admitted the Reserve Bank of India's (RBIs) insolvency petition against two SREI firms, including SREI Infrastructure and SREI Equipment Finance.

Rajneesh Sharma, administrator of SREI, appointed by RBI, has also been accepted by the NCLT. The founder of SERI Group, Hemant Kanoria, said that the company's objective from the beginning had been resolution. The company had moved to NCLT in 2020 for payment to all the creditors under Section 230 due to this reason, which was not considered.

He said that when the administrator was appointed, the company moved to Bombay High Court so that the investor process could complete, and a resolution could arrive expeditiously till the Insolvency and Bankruptcy Code, 2016 (IBC) proceedings could stay.

Hemant Kanoria told the media that the court did not accept, and RBI has moved to NCLT, so the company will cooperate with the regulatory to get a solution. He expresses confidence in India regulatory, government and judiciary for a fair decision.

Image Source

Infrastructure Urban

10 Apr 2026

Güntner Showcases Cooling Tech at China Expo

Güntner showcased its latest refrigeration and air conditioning innovations at China Refrigeration 2026, highlighting digital intelligence and carbon-neutral solutions.The company presented its aicore™ Controls and IoT platform, designed to optimise energy consumption, enable remote monitoring and enhance lifecycle management of cooling systems. The solution integrates advanced controllers and cloud-based capabilities to improve operational efficiency and reduce energy use.Güntner also demonstrated advancements in heat pump technologies, including its role in projects such as the Ordos Zer..

Superb Realty Ties Up with Praan for AI Air Tech

Superb Realty has partnered with Praan to deploy AI-powered autonomous air infrastructure across over one million sq ft of real estate in Mumbai, marking a significant move towards intelligent indoor environments.The rollout will begin at Superb Altura and expand across upcoming residential and mixed-use developments. The initiative aims to integrate real-time sensing, adaptive purification and AI-led optimisation to improve indoor air quality and occupant experience.Praan’s technology is designed to remove ultrafine particles significantly smaller than conventional systems and eliminate har..

DAAKit Raises $138,000 in Pre-Seed Round

DAAKit has raised $138,000 in a pre-seed funding round led by Inflection Point Ventures to expand its hyperlocal fulfilment network and strengthen technology capabilities.The company plans to use the funds to launch 25 new dark stores across Tier I and Tier II cities, enhance its technology infrastructure, and expand its leadership and operations teams. Currently operational in Delhi, Gurugram, Mumbai, Bengaluru and Kolkata, DAAKit is also piloting expansion into Tier II markets through Lucknow.Built on an asset-light, technology-driven model, the platform enables brands to position inventory ..