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NCLAT directs NCLT to decide on SREI's plea against subsidiary Trinity's rights issue

Economic Times  

The National Company Law Appellate Tribunal (NCLAT) has asked the Kolkata bench of the NCLT to decide over the plea of SREI Infrastructure Finance Ltd (SIFL) against the rights issue of its subsidiary Trinity Alternative Investment Managers. SIFL, which owns a 51% stake in the fund management arm, is anticipating dilution of its shareholding in the subsidiary after its right issue. The remaining 49% is owned by Payaash Capital Singapore Pte Ltd. The NCLT has ordered a status quo and is yet to pass any order over the plea filed by the non-banking financial company.