New Delhi : IDBI Bank has moved NCLT against Reliance Naval and Engineering to recover its dues from the company. The company has been informed that IDBI Bank, a lender of the company, has filed an application before the National Company Law Tribunal (NCLT), Ahmedabad, seeking debt resolution under the Insolvency and Bankruptcy Code (IBC), Reliance Naval and Engineering said on Thursday.
Besides, long-term infrastructure lender IFCI had also filed a similar application in November 2017, which is pending since last 10 months for admission, it said. The Anil Ambani-promoted Reliance Naval and Engineering (RNAVAL) is the first private sector company in India to obtain the licence and contract to build warships.
The company had said its net loss widened to Rs 347.21 crore in the quarter ended June 30, from Rs 230.42 crore in the year-ago period.