PNC Infratech receives ₹20 Crore settlement for Gwalior Bypass Project dispute
PNC Infratech settled a dispute regarding the Gwalior Bypass Project for ₹20 Crore. The company received this compensation after deciding not to pursue the resolution plan further due to prolonged legal proceedings. A No Objection Certificate was issued as part of the settlement.
The settlement amount of ₹20 Crore is material and resolves a long-standing issue, positively impacting the company's financial clarity and reducing potential future litigation expenses. However, it does not represent a significant new revenue stream.
The company received a significant settlement amount of ₹20 Crore, resolving a protracted dispute and mitigating further costs and uncertainties associated with the legal proceedings.
PNC Infratech Limited has announced a settlement regarding the Gwalior Bypass Project Ltd (Corporate Debtor) resolution plan. The company had submitted a resolution plan in 2020, which was approved by the Committee of Creditors (CoC) but not by the National Company Law Tribunal (NCLT) due to ongoing applications and counter-applications from other stakeholders, including the erstwhile Director, Mr. Nakul Bharana.
Considering the protracted proceedings, the company's performance bank guarantee of ₹29.51 Crore had been valid for nearly six years, and significant time, effort, and financial resources were expended. Consequently, PNC Infratech decided not to pursue the resolution plan further. An amicable settlement has been reached with Mr. Nakul Bharana, the erstwhile/suspended Director of the Corporate Debtor.
As part of this settlement, PNC Infratech has received ₹20.00 Crore as compensation for the costs incurred. This amount was received in the form of Demand Draft(s) on April 7, 2026 (night). In return, the company issued a No Objection Certificate (NOC) to Mr. Nakul Bharana. The company has also stated that the trading window for dealing in its securities by designated employees and connected persons is closed, in compliance with SEBI regulations.
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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.