Swan Energy takes management control of Reliance Naval & Engineering
Swan Energy on Thursday said it has formally taken the management control of Reliance Naval & Engineering.
The company had emerged as the winning bidder under an insolvency resolution process.
The National Company Law Tribunal-appointed monitoring committee has handed over the management control of the company with the approval of the committee of creditors to Swan Energy, according to a statement.
Swan Energy has constituted a board with its managing director Nikhil Merchant as the executive director, and Paresh Merchant and Bhavik Merchant as board members of Reliance Naval.
