Edition:
United Kingdom

Reliance Naval & Engineering Says IFCI's Insolvency Petition Against Co Has "No Merit"


Thursday, 30 Nov 2017 

Nov 30 (Reuters) - Reliance Naval And Engineering Ltd ::CLARIFIES ON NEWS ITEM REGARDING IFCI FILING INSOLVENCY CASE AGAINST CO TO RECOVER LOAN.SAYS THERE ARE "NO MERITS" IN IFCI'S APPLICATION BEFORE NCLT; SAYS ACTION IS "UNWARRANTED".SAYS 25 SECURED LENDERS REQUESTED IFCI THAT 'MATTER BE RESOLVED OUTSIDE THE NCLT'. 

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