NCLT rejects Reliance Infra subsidiary's resolution plan

The Mumbai bench of the NCLT rejected the resolution plan for SU Toll Road Pvt Ltd due to financial concerns. These concerns were primarily related to overdue road repairs that the successful resolution applicant refused to cover. The tribunal directed lenders to decide on the next steps within 15 days following the order. Furthermore, it specified that inviting fresh bids would extend the resolution process by an additional 120 days.