Reliance Infrastructure Flips the Switch: ₹926.8 Million Solar Dues Paid, Insolvency Shadows Dispelled!

Image Source: Equitypandit

Reliance Infrastructure Limited has finally settled its long-standing dues by making a full payment of ₹92.68 crore (₹926.8 million) to Dhursar Solar Power Private Limited. This move effectively cancels out an insolvency order that was previously issued by the National Company Law Tribunal (NCLT) in Mumbai.

This payment puts an end to a dispute that dates back to 2017-2018, when Dhursar Solar Power, through its security trustee IDBI Trusteeship Services, sought to recover unpaid invoices for solar power that was supplied to Reliance Infrastructure. The NCLT had accepted a corporate linsolvency resolution process (CIRP) plea against Reliance Infrastructure on May 30, 2025, following a default claim of ₹88.68 crore plus interest.

Now that the payment has been made, Reliance Infrastructure has announced plans to appeal to the National Company Law Appellate Tribunal (NCLAT) to withdraw the insolvency proceedings, arguing that the NCLT order is now "infructuous" since all dues have been settled according to the Energy Purchase Agreement.

Key Highlights:

Reliance Infrastructure has paid ₹92.68 crore to Dhursar Solar Power, resolving all tariff claims under their Energy Purchase Agreement.
This payment makes the NCLT’s insolvency order against Reliance Infrastructure void; the company will formally request the withdrawal of the order from NCLAT.
The dispute stemmed from unpaid invoices for solar power supplied between 2017 and 2018, with the original default amounting to ₹88.68 crore plus interest.
Dhursar Solar Power, based in Rajasthan, operates a 40 MW photovoltaic project that provides clean energy to Reliance Infrastructure under a long-term power purchase agreement.
This resolution comes as Reliance Group continues its broader push into renewable energy, with Reliance Power recently securing significant solar and battery storage projects, further enhancing its clean energy presence.

“The NCLT Order has become infructuous as legally advised, upon full payment having already been made,” Reliance Infrastructure stated in its stock exchange filing.

Source: Rediff Money