Swan Energy makes Rs 231 cr payment for Reliance Naval
Swan Energy, the successful resolution applicant for Reliance Naval and Engineering (RNEL), has made a payment of Rs 231.42 crore towards the upfront payment obligations. The payment was made through its special purpose vehicle, Hazel Infra.
The payment is the prelude to the final closure of proceedings pending before the National Company Law Tribunal, while a formal handover of RNEL is expected soon.
The company has also sought time till November 15 to make the balance upfront payment of Rs 231.42 crore.
