Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Nikhil Merchant’s Hazel
Mercantile and Swan Energy have won the bid for Reliance Naval &
Engineering, outbidding Jindal Steel and Global Marketing System.
The company has offered Rs 2,043 crore under
its resolution plan as against the admitted claims of Rs 12,883 crore.
Nikhil Merchant’s
Hazel Mercantile and Swan Energy have won the bid for Reliance Naval &
Engineering, outbidding Jindal Steel and Global Marketing System. The company
has offered Rs 2,043 crore under its resolution plan as against the admitted
claims of Rs 12,883 crore.
According to an
exchange filing, the Ahmedabad bench of
the National Company Law Tribunal (NCLT) approved the plan, which was
cleared by the committee of creditors. Reliance Naval is part of the Anil
Ambani group.
After the company
was admitted to insolvency, Reliance Infra — another group company — had
submitted its resolution plan. The group took over Pipavav Defence &
Offshore Engineering in 2015 and later renamed it as Reliance Naval &
Engineering (RNEL). The company was created to undertake defence projects.
In 2020, the Navy cancelled
its contract with Reliance Naval owing to the delay in delivery of the vessels.
