Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : This is in furtherance to our earlier announcement dated October 18, 2025 regarding Adani Infra (India) Limited ("AIIL") being declared and approved as the successful bidder for acquisition of Punj Lloyd Limited ("PLL") on a going concern basis under Liquidation process. This is to update that the Hon''ble NCLT, Principal Bench, New Delhi on Feb. 12, 2026, has allowed the application relating to approval of the acquisition plan submitted by AIIL for acquisition of PLL on a going concern basis under the ongoing liquidation process. Please note that this disclosure is being made pursuant to the pronouncement of order by the NCLT. We are informing the Exchanges about the above development based on the pronouncement of an oral order as a matter of good governance since the formal written order is yet to be uploaded. Further updates in this regard will be made within twenty four hours of the final order being uploated on the NCLT website.
Awaiting price reaction for this filing.
The NCLT Principal Bench in New Delhi has allowed the application for approval of the acquisition plan submitted by Adani Infra (India) Limited (AIIL) to acquire Punj Lloyd Limited on a going-concern basis under the ongoing liquidation process. AIIL had been declared the successful bidder earlier on October 18, 2025. The disclosure is based on the oral order pronounced on February 12, 2026, with the formal written order still pending upload on the NCLT website. Punj Lloyd is currently in liquidation, and further updates will be shared within 24 hours of the final written order being uploaded.
This is a major positive development for shareholders as it moves Punj Lloyd closer to exiting the long-pending liquidation process. Acquisition on a going-concern basis means the business continues operating, but the actual recovery for shareholders will depend on the final plan terms and what the resolution professional distributes to them.