The National Company Law Tribunal-appointed monitoring committee has handed over the management control of the company with the approval of the committee of creditors to Swan Energy, according to a statement.
Read more about Jindal Steel keen to acquire bankrupt Reliance Naval & Engineering on Business Standard. A successful sale of Reliance Naval will help creditors, including IDBI Bank and SBI recoup part of the company s Rs 10,800 crore of debt.