Anil Ambani-led Reliance Infrastructure has received temporary relief as the National Company Law Appellate Tribunal (NCLAT), New Delhi, stayed the order initiating corporate insolvency resolution proceedings (CIRP) against the company. The tribunal passed this order on July 18.
The next hearing in the matter is scheduled for August 27. In its filing to the stock exchanges, the company stated that the stay follows the earlier interim relief granted by the NCLAT on June 4. At that time, the tribunal had temporarily suspended the May 30 order of the National Company Law Tribunal (NCLT), which had initiated the insolvency process.
What is the issue about? RInfra was accused of Rs 88.68 crore default
On May 30, the NCLT, Mumbai had…