Reliance Power updates on Piramal Capital's petition at NCLT

An application under Section 7 of the Insolvency and Bankruptcy Code, 2016, has been filed against Reliance Power Ltd and its subsidiary Reliance Natural Resources Limited (RNRL) by Piramal Capital and Housing Finance Limited in relation to financial claim of Rs. 526.10 Cr due from RNRL.

No notice in relation to the above has yet been issued by NCLT to the company or its subsidiary. The company has said this in its disclosure to stock exchanges that it has given the notification with abundant caution.

The Company also mentioned that it has engaged in bilateral discussions to resolve the matter outside IBC and taking requisite steps.

Shares of Reliance Power Limited was last trading in BSE at Rs. 12.99 as compared to the previous close of Rs. 13.02. The total number of shares traded during the day was 5079828 in over 6266 trades.

The stock hit an intraday high of Rs. 13.44 and intraday low of 12.90. The net turnover during the day was Rs. 66983349.00.

Source : Equity Bulls

Keywords

ReliancePower INE614G01033 RNRL InsolvencyPetition PiramalCapitalandHousingFinance NCLT