Anil Ambani wins big as NCLAT suspends insolvency order against Reliance Infra after...
In a major relief for Anil Ambani, the National Company Law Appellate Tribunal (NCLAT) Wednesday suspended an order issued by National Company Law Tribunal (NCLT) to admit Reliance Infrastructure into the Corporate Insolvency Resolution Process (CIRP).
'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process,' the Reliance Group company revealed in its regulatory filing. NCLT admits Reliance Infra under CIRP
Earlier, acting on a plea filed by IDBI Trusteeship Services Ltd, the NCLT had admitted Reliance Infra under CIRP. The plea stemmed from a dispute over a 2011 Energy Purchase Agreement (EPA) between Reliance Infrastructure and Dhursar Solar Power Pvt Ltd (DSPPL), under which the Anil Ambani-led company had committed to purchase all power generated by DSPPL's solar power plant.
In 2012, DSPPL signed a direct agreement with IDBI Trusteeship Services Ltd, designating it as as the holder of DSPPL's claims. DSPPL energy to Reliance Infra between 2017 and 2018, and sent ten invoices to the company. However, after Anil Ambani's fir was unable to pay the dues, IDBI Trusteeship, under the Insolvency and Bankruptcy Code (IBC), issued a demand notice in April 2022, seeking more than Rs 88 crore in unpaid dues.
IDBI Trusteeship filed a plea with the NCLT against Reliance Infra, and on May 30, a division bench of judicial member KR Saji Kumar and technical member Sanjiv Dutt said admitted the Anil Ambani-promoted company into CIRP. 'We come to a definite conclusion that the operational creditor (IDBI Trusteeship) has become successful in establishing operational debt due and payable against the CD (corporate debtor) and that the CD (Reliance Infrastructure) is in default,' the NCLT bench said in its order.
Meanwhile, Reliance Infrastructure stated that it has already paid the dues in full to DSPPL, and asserts that the plea was time-barred as the invoice dates back to September 2018, adding that the petition was non-maintainable due to its pre-existing dispute with DSPPL.
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