NCLAT suspends insolvency proceedings against Reliance Infrastructure

Reliance Infra says it has fully paid dues claimed by Dhursar Solar Power as NCLAT puts on hold NCLT's May 30 order initiating insolvency against the firm

The National Company Law Appellate Tribunal (NCLAT) has suspended insolvency proceedings against Reliance Infra after the company argued that it has cleared the entire outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL), the company informed the exchanges on Wednesday.

 

The order came in response to an appeal filed by the company, challenging the ruling of the National Company Law Tribunal (NCLT), admitting R-Infra into the corporate insolvency resolution process (CIRP) on a plea filed by the IDBI Trusteeship Services.

 

“The NCLT order has become infructuous as legally advised, upon full payment having already been made,” the company stated. 

 

 

DSPPL, a Mumbai-based private company with solar power plants in Rajasthan’s Dhursar, supplied solar energy to R-Infra under an agreement signed in 2011. R-Infra defaulted on payments for 10 invoices issued between 2017 and 2018.

 

IDBI Trusteeship Services (operational creditor), which acted as DSPPL’s security trustee, issued a demand notice to R-Infra in 2022 under the Insolvency and Bankruptcy Code (IBC), 2016. It then filed a plea with the NCLT to start insolvency proceedings against R-Infra over a default of ₹88.68 crore (excluding interest) by the company.

 

Meanwhile, R-Infra argued that the application is barred by limitation, and the invoices did not follow the EPA and hence are not valid for operational debt claims.

 

However, in its order dated May 30, 2025, the special bench of NCLT admitted IDBI Trusteeship Services’ plea for initiating CIRP.