Swan Energy has formally taken the management control of Reliance Naval & Engineering. The company had emerged as the winning bidder under an insolvency resolution process.
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. The acquisition of Reliance Naval marks the company's entry into the shipbuilding, ship repairing and heavy fabrication industry.
Swan Energy is engaged in the business of Real Estate, Textile and Energy.
