Swan Energy gets 45-day extension to pay first instalment for R-Naval

Swan Energy and Hazel Mercantile, the successful resolution applicants for Reliance Naval and Engineering (R-Naval), have received a 45-day extension to pay the upfront money, after the extended July 23 deadline expired.

The bankruptcy court hearing the petition last week had provided the consortium an extension. A written order of the same is awaited, legal sources, who were briefed on the matter, said.