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Reliance Infrastructure said that there is no impact or bearing of the NCLT order on Reliance Infrastructure or any of its subsidiaries.
Reliance Infrastructure said on Wednesday that the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against the company.
“We wish to inform that in the appeal filed, the NCLAT, New Delhi, today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, (NCLT) Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process (CIRP),” Reliance Infrastructure said in a filing on BSE.
The issue relates to a petition filed by the IDBI Trusteeship in April 2022 to initiate a CIRP against Reliance Infrastructure over claims of a default of ₹88.68 crore. The default was on invoice payments raised by the Dhursar Solar Power (DSPPL) for supplying solar energy to Reliance Infrastructure.
Last week, the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency plea against Reliance Infrastructure filed by IDBI Trusteeship Services, which was opposed by the former.
In a BSE filing on Monday, Reliance Infrastructure said that there is no impact or bearing of the NCLT order on Reliance Infrastructure or any of its subsidiaries.
“The company has made full payment of ₹92.68 crore to Dhursar Solar Power, towards the claim of tariff as per the Energy Purchase Agreement with the Company,” it added.
Accordingly, the company preferred an appeal before the NCLAT and will seek withdrawal of the order dated May 30, 2025, passed by NCLT Mumbai for CIRP and appointment of the interim resolution professional. The NCLT order has become infructuous as legally advised, upon full payment having already been made, it said.
Published on June 4, 2025
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