Ceigall India Limited has informed the Exchange about General Updates
CEIGALL · price
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Awaiting price reaction for this filing.
Ceigall India informed exchanges that the Delhi High Court has ruled in the company's favor in its writ petition against NHAI. NHAI had partially invoked a surety bond and forfeited the company's bid security of ₹54.35 lakh in connection with a highway project bid. The court quashed and set aside this forfeiture action entirely. As a precautionary measure, the court directed Ceigall to deposit ₹15 lakh with NHAI and advised the company to exercise more care while quoting bid prices in the future. The company has described the outcome as having a positive impact on its financial position.
Positive for shareholders — the company avoids a ₹54.35 lakh loss from the forfeiture and wins legal backing, though it must deposit ₹15 lakh with NHAI and be more careful in future bids. This removes a near-term overhang but is relatively small in monetary terms.