Reliance Power Limited announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has permitted the withdrawal of an application filed against the company by CFM Asset Reconstruction Private Limited.
This application was initially filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The order was passed on September 25, 2024, and the formal documentation of the order is awaited.
The company shared this development through stock exchanges, referring to their prior communications dated June 11, 2024, and September 17, 2024.
In accordance with Regulation 30 of the Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123, Reliance Power informed stakeholders about the NCLT’s decision.
This favorable news has positively impacted Reliance Power’s stock price, which saw a surge of 4.99%, trading at ₹44.15 as of 12:08 pm.
