SREI Equipment Finance files insolvency application against Reliance Infrastructure Limited

Reliance Infrastructure Limited has announced that an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, has been filed by financial creditor, namely SREI Equipment Finance Limited, in relation to an amount of Rs.38.6 cr.

No notice in relation to the above has yet been issued by NCLT to the Company. The company has made this disclosure to the stock exchanges as an abundant caution.

The Company is engaged in bilateral discussions to resolve the matter outside IBC and taking requisite steps.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 109.15 as compared to the previous close of Rs. 109.75. The total number of shares traded during the day was 1663097 in over 4630 trades.

The stock hit an intraday high of Rs. 114.50 and intraday low of 108.25. The net turnover during the day was Rs. 181950686.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 RELINFRA InsolvencyPetition SREIEquipmentFinance NCLT