As 2 debtor companies enter liquidation, SREI Infrastructure Finance may write off Rs 360 crore

SREI Infrastructure Financefaces write-off of nearly Rs 360 crore as two debtor companies enter liquidation and at the end of resolution time a third approaches. Viom shares were sold in 2016 when Confident Solar and Resurgent Infratel repaid some money to SREI. SREI’s loans financed the purchase of Viom Networks shares by these companies. Earlier this year, SREI Infrastructure initiated insolvency proceedings against these companies and Right Towers. These companies currently have no other operations. The merger of Tata Teleservices’ spun off tower arm and Quippo Telecom Infrastructure formedViom Networks in August 2009. Quippo Telecom was a subsidiary of SREI Infrastructure Finance. Quippo Telecom Infra renamed as Preference Telecom Infratructure, shares common directors with Resurgent Infratel, Right Towers and Confident Solar. Quippo Infra Equipment has been merged with another company but had SREI Group vice-chairman Sunil Kanoria as the managing director.