Reliance Infrastructure Limited has announced that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition filed by Canara Bank Limited. The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure. The admitted claim amount is INR 282.60 crore. Reliance Infrastructure’s exposure to HK Toll Road, approximately INR 355 crore, has already been accounted for in its books.
NCLT Admits Insolvency Petition
Reliance Infrastructure Limited disclosed that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition filed by Canara Bank Limited. This admission pertains to the Corporate Insolvency Resolution Process (CIRP) for HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure.
Key Details of the Petition
- Admitted Claim Amount: The petition, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, involves a claim amount of INR 282.60 crore, inclusive of interest.
- Date of Order: The NCLT’s order admitting the petition was dated June 11, 2026.
- Company Exposure: Reliance Infrastructure has stated that its own exposure to HK Toll Road amounts to approximately INR 355 crore, which has already been provisioned for in the company’s books of accounts.
Background
The insolvency proceedings were initiated by Canara Bank Limited against HK Toll Road Private Limited concerning financial debt and default. The NCLT’s order followed a detailed examination of the case, considering the financial debt and the admitted default. The Tribunal’s decision aligns with the provisions of the Insolvency and Bankruptcy Code, 2016, emphasizing the establishment of debt and default as grounds for admitting a Section 7 application.
The NCLT has further declared a moratorium under Section 14 of the IBC, 2016, with consequential directions, including the prohibition of initiating or continuing suits against the Corporate Debtor and restrictions on transferring or disposing of its assets. Mr. Sanjay Kumar Mishra has been appointed as the Interim Resolution Professional (IRP).
The company’s disclosure is made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
