Insolvency move against Rel Infra stayed by NCLAT
New Delhi: In a big relief to Reliance Infrastructure, appellate tribunal NCLAT on Wednesday stayed the insolvency proceedings against the company.
Reliance Infrastructure in a regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) suspended the order passed by the NCLT over an appeal filed by it. "In the appeal filed, the 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," it said.
On May 30, the Mumbai bench of the National Company Law Tribunal (NCLT) had admitted an insolvency plea against the company filed by IDBI Trusteeship Services Ltd. This was opposed by Reliance Infra, saying that it had made the full payment of Rs 92.68 crore to Dhursar Solar Power Pvt Ltd towards claims of tariff, making the initiation of insolvency proceedings infructuous. "The company has made full payment of Rs 92.68 crore to Dhursar Solar Power Private Limited, towards claim of tariff as per the Energy Purchase Agreement with the company," Reliance Infra had said in a stock exchange filing on June 2.
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