Overview

• On July 18, the NCLAT suspended the May 30 NCLT Mumbai order that began corporate insolvency resolution proceedings against Reliance Infrastructure.
• The latest stay follows an earlier suspension on June 4 and prevents further insolvency actions until the August 27 hearing.
• Reliance Infrastructure reported in a June 2 stock exchange filing that it has fully paid Rs 92.68 crore to Dhursar Solar under their Energy Purchase Agreement.
• The original petition was filed in April 2022 by IDBI Trusteeship on behalf of Dhursar Solar, alleging an unpaid default of Rs 88.68 crore for solar energy supplied between 2017 and 2018.
• Tehseen Fatima Khatri remains the interim resolution professional appointed by the NCLT Mumbai to oversee the case while proceedings are stayed.