New York-based private investment firm Cerberus Global Investments BV is the third investor to show interest in capital infusion into Srei Equipment Finance Limited (SEFL). There will also be a forensic audit of the books of the NBFC at the behest of the lenders.

The non-bank finance firm had earlier received expressions of interest for capital infusion of about $250 million from US firm Arena Investors and Singapore-based Makara Capital.

The capital infusion is aimed at shoring up the capital base of SEFL at a time the NBFC’s cash flow has come under stress because of the asset liability mismatch during the Covid-19 pandemic. While the company has offered moratorium to eligible borrowers, it was not allowed moratorium by its lenders.

This has raised concern among investors over the company’s ability to repay its liabilities. The company had anticipated the challenging situation and had approached NCLT with a scheme of proposed repayment of loans.

SEFL in a statement on Saturday said that KPMG Assurance and Consulting Services and chartered accountants firm DmKH & Co will act as forensic auditors to the non bank financial company on the advice of its lenders. The NBFC said the audit is part of the proposed debt realignment process. The RBI has conducted a special audit into the books of the lender.

SEFL also said that it has appointed former Supreme Court of India judge Justice Deepak Verma as an independent director on its board effective April 23, 2021.

SEFL had earlier said that a strategic coordination committee consisting of independent directors has been formed to engage in discussion with private equity funds to bring capital into the business. Ernst & Young is advising the committee on the fund raising exercise.