KNR Constructions Limited has informed the Exchange regarding 'Receipt of order from Hon'ble High Court of Delhi'.
KNRCON · price
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KNR Constructions' wholly-owned subsidiary KNR Ramanattukara Infra Private Limited had been suspended by NHAI from participating in ongoing and future bids for one month, following a road and retaining wall failure on a highway project stretch. KNR challenged this suspension at the Delhi High Court, and on 21st July 2025, the Court ruled in KNR's favour. The Court observed that the NHAI suspension order has 'lived its life' since both the one-month period and the expert committee investigation are now complete, and that barring future bidding was a drastic measure. The subsidiary is therefore no longer disqualified from bidding. NHAI retains the right to take further action under its policy, and the next hearing is scheduled for 25th July 2025.
Positive for KNR Constructions shareholders — the bidding restriction on its subsidiary has been lifted by the Delhi High Court, removing a key overhang and allowing the subsidiary to participate in future NHAI and other infrastructure tenders. However, NHAI retains liberty to pursue further action, so some residual risk remains until the next hearing on 25th July 2025.