Swan Defence and Heavy Industries Limited has informed the Exchange that the Company, on 27" March, 2026 has concluded making full and final repayment to all Committee of Creditors' members, in accordance with the Resolution plan pursuant to the NCLT Order dated 23.12.2022.
SWANDEF · price
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Swan Defence and Heavy Industries (formerly Reliance Naval and Engineering) has completed full and final repayment to all members of the Committee of Creditors on March 27, 2026. This repayment was made under the Resolution Plan approved by the NCLT on December 23, 2022. The company has now fully implemented its insolvency resolution plan, marking the end of the CIRP process it had been undergoing. Creditors have been made whole as per the terms of the approved plan.
This is a major positive milestone for shareholders — the company has successfully exited the insolvency resolution process, which removes a major overhang on the stock. It signals a clean slate, potential operational normalization, and improved credibility with lenders and markets going forward.