Reliance Infrastructure Limited has informed the Exchange about Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
RELINFRA · price
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Awaiting price reaction for this filing.
NCLT Mumbai admitted an insolvency petition filed by IDBI Trusteeship Services against Reliance Infrastructure on May 30, 2025, initiating Corporate Insolvency Resolution Process (CIRP) and appointing Ms. Tehseen Fatima Khatri as Interim Resolution Professional. The Rs. 88.68 crore default relates to unpaid solar power invoices from Dhursar Solar Power Private Limited, which the company had contested on multiple grounds. Reliance Infrastructure has since made full payment of Rs. 92.68 crore to Dhursar Solar Power and is appealing to NCLAT seeking withdrawal of the order, claiming it has become infructuous. The NCLT rejected the company's plea to stay the CIRP order, noting that IBC does not provide for staying a CIRP admission.
This is a severely negative development for shareholders — CIRP admission typically triggers sharp stock price declines, trading restrictions, and operational uncertainty. However, the full payment of dues and pending NCLAT appeal may lead to reversal of the order, which could trigger a sharp recovery. Expect extreme volatility in the stock.