In a significant move that highlights the ongoing challenges in India’s infrastructure sector, the National Company Law Tribunal (NCLT) in Mumbai has admitted an insolvency plea against SU Toll Road Private Limited, a company linked to Reliance Infrastructure. The order, pronounced on August 18, 2025, marks the start of a Corporate Insolvency Resolution Process (CIRP) for the company.
The case was brought forward by the State Bank of India (SBI), which leads a consortium of lenders including Phoenix ARC, Punjab National Bank, and Bank of Baroda. According to SBI’s petition, SU Toll Road, a special purpose vehicle (SPV) created to manage a section of National Highway 68 in Tamil Nadu, had defaulted on a significant loan….