Trinity Alternative Investment Managers, majority-owned by Srei Infra Finance which is undergoing RBI-mandated insolvency proceedings, has said no illicit transactions
have been done with any Srei Group
entities. Trinity also said that none of the extant rules define related-party transactions when it comes to Alternative Investment Funds (AIFs
) and that Srei group, despite owning 51 per cent stake, does not have a board representation since the entity is only an asset manager.
Last week, reports said the RBI-appointed administrator Rajneesh Sharma has moved the Kolkata bench of the National Company Law Tribunal (NCLT) seeking to include around Rs 8,400 crore loans that Srei group entities have extended to 20 of the 50 investee companies of Trinity, under the ongoing insolvency proceedings.
The administrator has also sought to stall a planned rights issue by Trinity as Srei being under insolvency proceedings cannot participate as…
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