Reliance Infra's toll road unit faces CIRP as NCLT admits ₹282.6 cr claim
Canara Bank's insolvency petition accepted; parent said it had already provided for its ₹355 crore exposure (10% of market cap).
— 1 earlier story on Reliance Infrastructure Ltd. →What's new
- NCLT admits insolvency petition by Canara Bank against HK Toll Road, a Reliance Infra subsidiary.
- Claim amount: ₹282.6 crore; subsidiary's NHAI concession was terminated in Jan 2024.
- Reliance Infrastructure has already booked a ₹355 cr provision against this exposure.
Why this matters
The formal CIRP commencement at a subsidiary level signals deepening financial distress for the Reliance group. While the provision cushions the direct hit, it complicates parent-level fundraising, ongoing arbitration with NHAI, and credit perception.
What we're watching
- Separate arbitration and Supreme Court proceedings with NHAI over the same project.
- Impact on Reliance Infra's broader restructuring and fundraising plans.
- Whether other creditors move against the parent.
The full read
The Mumbai bench of the NCLT has admitted Canara Bank’s insolvency petition against HK Toll Road, a wholly owned subsidiary of Reliance Infrastructure, for a claim of ₹282.6 crore. HK Toll Road operated a 59.87 km highway stretch under an NHAI concession that was terminated in January 2024. Reliance Infrastructure said it had already provided for its ₹355 crore exposure in its books, equivalent to 10% of its market capitalisation. The formal commencement of CIRP at a subsidiary deepens the group's financial distress. Though the provision cushions the direct hit, the moratorium on HK Toll Road's assets and the ongoing arbitration with NHAI complicate Reliance Infra's restructuring and fundraising efforts. The stock, already under ASM restrictions affecting 7 lakh retail shareholders, now faces an additional overhang.
Questions answered
- How much is the claim admitted by NCLT?
- Canara Bank's claim is ₹282.6 crore. The parent Reliance Infrastructure's total exposure to the subsidiary is about ₹355 crore.
- Has Reliance Infrastructure already accounted for this exposure?
- Yes, the company said it has already made a provision for the full ₹355 crore in its books, so no immediate earnings hit.
- What happens to HK Toll Road now?
- The NCLT order appoints Sanjay Kumar Mishra as interim resolution professional and imposes a moratorium on the subsidiary's assets. The CIRP will attempt to resolve the debt.
- Does this affect Reliance Infrastructure's stock or trading?
- The stock is already under ASM trading restrictions affecting 7 lakh retail shareholders as per prior coverage. The CIRP admission could further pressure sentiment.
- What is the status of the NHAI project?
- The 59.87 km highway concession was terminated in January 2024. Reliance Infra is in separate arbitration and Supreme Court proceedings with NHAI over the project.
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All notes on RELINFRA →- 11 Jun 2026 · 11:31 PM IST Reliance Infra's toll road unit faces CIRP as NCLT admits ₹282.6 cr claim
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