NCLAT directs NCLT to decide over SREI’s plea against rights issue of Trinity Alternative Investment

The National Company Law Appellate Tribunal (NCLAT) has asked the NCLT's Kolkata bench to decide over the plea of SREI Infrastructure Finance against the rights issue of its subsidiary Trinity Alternative Investment Managers.

SREI Infrastructure Finance Ltd (SIFL) owns 51 per cent equity in the fund management firm Trinity Alternative Investment Managers Ltd, while the remaining 49 per cent shareholding is owned by Payaash Capital Singapore Pte Ltd.

A two-member NCLAT bench,observed that the National Company Law Tribunal (NCLT) has ordered a status quo and is yet to pass any order over the plea filed by the non-banking financial company.

The appellate tribunal has directed NCLT to take up the matter on February 18, 2022, as scheduled, without any further adjournments and deal with all issues.

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(With inputs from PTI)