NCLT directs Reliance Naval winner to make upfront payment: Report

National Company Law Tribunal (NCLT) has directed Swan Energy to make an upfront payment of about ₹250 crore to the lenders of Reliance Naval and Engineering Limited (RNEL), PTI reported. Swan, along with Hazel Mercantile, was the winning bidder for bankrupt RNEL. It had reportedly approached NCLT to seek a third extension to make the payment.