Reliance Infrastructure received a significant reprieve as the NCLAT stayed the insolvency proceedings initiated against it. This decision suspends the NCLT’s previous order from May 30, 2025, which admitted the company into the Corporate Insolvency Resolution Process following a plea by IDBI Trusteeship Services Ltd.
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 has 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.
In April 2022, IDBI Trusteeship had filed a petition for initiating a corporate insolvency resolution process (CIRP) against Reliance Infrastructure, alleging a default of Rs 88.68 crore as of August 28, 2018, plus interest.
The default was on payment of 10 invoices raised between 2017 and 2018 by Dhursar Solar Power Private Ltd (DSPPL) for supplying solar energy to Reliance Infrastructure.
IDBI Trusteeship, being the security trustee of DSPPL, sought payments against the invoices from Reliance Infrastructure.
Source: Economic Times