PNC Infratech Receives ₹20 Crore Settlement for Gwalior Bypass Project
PNC Infratech received ₹20 Crore as compensation for costs incurred in the Gwalior Bypass Project. The company settled amicably with the erstwhile Director after the Resolution Plan was not approved by NCLT. A No Objection Certificate was issued on April 7, 2026.
The settlement amount of ₹20 Crore is material for the company and resolves a long-standing issue, positively impacting its financial standing and reducing future litigation risks. However, it does not represent a new major business win.
The company received a significant settlement amount of ₹20 Crore, which compensates for costs incurred and resolves a protracted legal matter, leading to a positive financial outcome.
PNC Infratech Limited has received a settlement amount of ₹20.00 Crore (Rupees Twenty Crores only) in relation to the Gwalior Bypass Project Ltd. The company had submitted a Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) in 2020, which was approved by the Committee of Creditors (CoC) but not by the Hon'ble NCLT due to ongoing applications and counter-applications from other stakeholders, including Mr. Nakul Bharana, the erstwhile Director of the Corporate Debtor.
Considering the protracted proceedings, the performance bank guarantee of ₹29.51 Crores submitted in August 2020 having been valid for nearly six years, and the significant expenditure of time, effort, and financial resources, PNC Infratech decided not to pursue the Resolution Plan further. Consequently, the company entered into an amicable settlement with Mr. Nakul Bharana.
As part of this settlement, PNC Infratech received ₹20.00 Crore as compensation for costs incurred. The settlement was finalized, and a No Objection Certificate (NOC) was issued to Mr. Nakul Bharana on April 7, 2026. This settlement fully and finally resolves the matter.
Additionally, the company has closed its trading window for dealing in securities, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
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PNC Infratech Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by PNC Infratech Limited. Read the original for the full detail.