Disclosure Regarding Imposition of Penalty Under Regulation 30 of the SEBI (LODR) Reg, 2015
PATELENG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Patel Engineering Ltd has been blacklisted by the Public Procurement Monitoring Office, Government of Nepal for a period of three years (May 27, 2026 to May 26, 2029). The blacklisting relates to a Joint Venture (RAMAN PATEL J.V.) between the company (35% stake) and Raman Construction Private Limited (65%, lead partner) for the Sunkoshi Marin Diversion Multipurpose Project, Lot-1. The contract was terminated due to disputes between the JV and the employer, and the matter is currently sub-judice. The company states that since all project execution was managed by the lead partner Raman, there is no material financial or operational impact on the listed entity.
Short-term reputational risk in Nepal's public procurement sector, but limited impact on Indian operations and financials as the company held only a minority stake and was not responsible for project execution.