NCLT approves Swan Energy plan to acquire Reliance Naval and Engineering

The Ahmedabad bench of NCLT approved the resolution plan by Hazel Mercantile Ltd (with Swan Energy as strategic partner) to acquire Reliance Naval and Engineering Ltd. Hazel Infra Ltd will take over the corporate debtor and subscribe to 50 million fresh equity shares.

“Swan Energy Ltd (SEL) on Thursday, December 29, said the Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Hazel Mercantile Ltd (HML) to acquire Reliance Naval and Engineering Ltd (RNEL).”cnbctv18.com

• 2 sources
• cnbctv18.comNCLT approves Swan Energy plan to acquire Reliance Naval and Engineering - CNBC TV18Jomy Jos PullokaranDec 29, 2022
• newindianexpress.comNCLT approves Swan Energy’s Rs 2,100 crore bid for Reliance NavalExpress News ServiceDec 30, 2022

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