 "NCLT adjourns insolvency case against Reliance Naval by IFCI to Jan 11")
The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Tuesday adjourned an insolvency case against Anil Ambani-led Reliance Naval and Engineering Ltd to January 11, 2018.
Reliance Marine & Offshore Ltd, a subsidiary of Reliance Naval and Engineering Ltd and its guarantor, failed to serve a Rs 60 crore loan extended by IFCI, following which the lender approached the NCLT against both in mid-November.
The two-judge bench of NCLT adjourned the matter till January 11, 2018, after the Reliance Naval and Engineering Ltd counsel sought time for considering an appeal to the National Company Law Appellate Tribunal (NCLAT) in the interim.
IFCI
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