VPRPL Receives Termination Notice from North Western Railway, Faces ₹8.87 Crore Penalty
VPRPL received a termination notice from North Western Railway for the Jaipur-Sawai Madhopur Doubling Project. The company faces a ₹8.87 crore penalty, including forfeiture of Performance Guarantee and Security Deposit. VPRPL has filed a Writ Petition in Rajasthan High Court seeking to quash the termination and stay the bank guarantee encashment.
The termination of a contract and the potential forfeiture of a large bank guarantee represent a significant financial and operational setback for the company, likely impacting its revenue and profitability.
The company has received a termination notice for a significant contract and faces a substantial financial penalty, which negatively impacts its financial standing and operational outlook.
Vishnu Prakash R Punglia Limited (VPRPL) has received a termination notice from North Western Railway concerning the contract for the Jaipur – Sawai Madhopur Doubling Project. The contract encompassed various works including earthwork, construction of station buildings, platforms, bridges, and ancillary structures between Jaipur and Chaksu stations.
The termination notice, received on January 13, 2026, states that the contract stands rescinded and the remaining work will be carried out independently without VPRPL's participation.
As a consequence, VPRPL is expected to face financial implications amounting to ₹8.87 crore (INR 88.69 million). This includes the forfeiture of its Performance Guarantee and Security Deposit through the encashment of a Bank Guarantee worth the same amount. In response, VPRPL has initiated legal proceedings by filing a Writ Petition along with a stay application in the Rajasthan High Court, Jodhpur, on January 14, 2026. The company is seeking to quash the termination order and prevent the department from encashing the Bank Guarantee.
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Vishnu Prakash R Punglia 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 high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Vishnu Prakash R Punglia Limited. Read the original for the full detail.