Cyril Amarchand Mangaldas Advised Swan Defence And Heavy Industries Limited On INR 1,332 Crore Resolution Plan Funding

Cyril Amarchand Mangaldas advised Swan Defence and Heavy Industries Limited on INR 1,332 Crore resolution plan funding

The Leading law firm in India, Cyril Amarchand Mangaldas advised Swan Defence and Heavy Industries Limited in relation to part funding of the balance resolution plan amount of INR 1,332 Crore for the acquisition of erstwhile Reliance Naval and Engineering Limited under an NCLT-approved resolution plan, April 06, 2026, Mumbai. The transaction involves a deferred payment arrangement with the financial creditors of the erstwhile entity, with financing extended by the National Bank for Financing Infrastructure and Development (NaBFID). The completion of the transaction is subject to terms agreed under the resolution framework.

Reliance Naval and Engineering Limited had undergone a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Pursuant to this process, Hazel Infra Limited, a joint venture between Hazel Mercantile Limited and Swan Energy Limited, emerged as the successful resolution applicant and subsequently acquired the company, which was renamed Swan Defence and Heavy Industries Limited.

The Cyril Amarchand Mangaldas team was led by Arkoday Roy (Partner), with support from Abha Mehta (Principal Associate), Karn Taneja (Associate), and Vidushi Puri (Associate).

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