Shares of Reliance Infra Ltd. surged as much as 10% on Wednesday, June 4, after the company informed the exchanges that the National Company Law Appellate Tribunal (NCLAT) has suspended the order passed by the National Company Law Tribunal (NCLT), that had admitted the company into the insolvency resolution process.
The NCLT had passed that order on May 30 this year.
The plea to admit Reliance Infra into insolvency was filed by the IDBI Trusteeship back in April 2022, alleging a default of ₹88.68 crore, and an interest of 1.25% a month.
The petition was filed after Dhursar Solar Power Pvt. Ltd. defaulted in payments of 10 invoices issued between 2017 and 2018 to supply solar energy to Reliance Infra as per an energy agreement in 2012….
