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The Reserve Bank of India (RBI) on Monday informed that it has retained the Advisory Committee of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL).

The Reserve Bank had on 4 October constituted a three-member advisory committee to assist Rajneesh Sharma, administrator of SIFL and SEFL, in discharge of his duties. 

The members of the committee are: Subramaniakumar, former MD and CEO, Indian Overseas Bank; T T Srinivasaraghavan, former Managing Director, Sundaram Finance Limited; Farokh N Subedar, former Chief Operating Officer and Company Secretary, Tata Sons Limited.

 Upon admission of the petitions for insolvency resolution process by the Kolkata Bench of the National Company Law Tribunal, the Reserve Bank has decided that the three-member Committee “shall continue as the Advisory Committee constituted under Rule 5 (c) of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019". 

The Advisory Committee shall advise the administrator in the operations of the SIFL and SEFL during the corporate insolvency resolution process.

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