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

Swan Defence and Heavy Industries

30/11/2017 11:38

Nov 30 (Reuters) - Reliance Naval And Engineering Ltd 
 RELV.NS : 
    * 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' 
 
Source text: http://bit.ly/2k9lQox 
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 ((Bangalore.newsroom@thomsonreuters.com;))