NARCL Successfully Resolves Rs 327 Bn SREI Debt Through IBC

11 Dec 2023 CW Team

The National Asset Reconstruction Company (NARCL) has completed the acquisition of SREI companies, resolving a substantial financial debt of Rs 327 Bn under the Insolvency and Bankruptcy Code (IBC). This strategic move is a significant step towards stabilising the financial landscape and underscores NARCL's role in resolving complex debt scenarios in the business sector.

The completion of the acquisition process marks a milestone in the resolution of financial distress, providing a clear path for restructuring and recovery. NARCL's successful intervention is expected to have positive implications for the financial ecosystem, fostering confidence and stability in the wake of challenging economic conditions.

As NARCL continues to play a pivotal role in addressing debt-related challenges, the resolution of the SREI debt represents a substantial achievement in the realm of mergers, acquisitions, and financial restructuring. The successful conclusion of this transaction contributes to the broader objectives of financial stability and the efficient functioning of the insolvency framework.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..