NCLAT suspends NCLT’s insolvency order against Reliance Infra

NCLAT suspends NCLT’s insolvency order against Reliance Infra

“The NCLAT in New Delhi today suspended the National Company Law Tribunal’s (NCLT) May 30 order, admitting the company into the corporate insolvency resolution process,” Reliance Infrastructure said in a stock exchange announcement

Reliance Infra Stock Up 13% After NCLAT Suspends Order Allowing Insolvency Case

Reliance Infrastructure Ltd.'s stock jumped 13% on Wednesday after the National Company Law Appellate Tribunal suspended an order passed by the National Company Law Tribunal that admitted the company into the insolvency resolution process.The Mumbai branch of the NCLT passed that order on May 30. The plea to admit Reliance Infra into insolvency was filed by the IDBI Trusteeship back in April 2022, alleging a default of Rs 88.68 crore, and an int…