Reliance Infra shares jump 11% as NCLAT stays IBC proceedings till July 18

Reliance Infrastructure Chairman Anil Ambani

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26 Aug, 2025 12:21

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Shares of Reliance Infrastructure Ltd jumped over 11% on June 4 after the National Company Law Appellate Tribunal (NCLAT) stayed the corporate insolvency resolution process against the firm till July 18, the next date of hearing. The appellate tribunal was hearing an appeal against the National Company Law Tribunal (NCLT) Mumbai bench's order to admit IDBI Trusteeship Services Ltd.'s insolvency petition against Reliance Infrastructure.

Reliance Infrastructure had argued that it had paid the entire amount to IDBI Trusteeship and the insolvency proceedings should not have been started against them.

On June 4, Reliance Infrastructure shares on NSE closed 11% higher at Rs 380 apiece.

In April 2022, IDBI Trusteeship had filed a petition for initiating a corporate insolvency resolution process (CIRP) against Reliance Infrastructure, alleging a default of Rs 88.68 crore as of August 28, 2018, plus interest. The default was on payment of 10 invoices raised between 2017 and 2018 by Dhursar Solar Power Private Ltd (DSPPL) for supplying solar energy to Reliance Infrastructure. IDBI Trusteeship, being the security trustee of DSPPL, sought payments against the invoices from Reliance Infrastructure.

Reliance Infrastructure then informed exchanges that it had already made the full payment of Rs 92.68 crore to Dhursar Solar Power. It then moved NCLAT, alleging that the NCLT order should become infructuous as the said payment amount has already been made.

The stock has seen significant surge in recent days, jumping over 20 percent in the past five days. In the past one month, the stock has soared over 48 percent. It has seen a whopping 144 percent jump in the past one year.

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