Punj Lloyd Limited has informed the Exchange regarding ''. With reference to the provisions of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019//140 dated November 21, 2019, we would like to inform you that Hon ble National Company Law Tribunal (NCLT), Principal Bench, New Delhi vide Order dated March 8, 2019 has initiated Corporate Insolvency Resolution Process (CIRP) in Punj Lloyd Limited (the Company) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Mr. Ashwini Mehra has been appointed as Resolution Professional in the Company vide NCLT order dated May 22, 2019 and the Company is under Moratorium in terms of section 14 of IBC.The company is not able to meet its commitment on account of payment of interest / repayment of principal amount of loans taken from banks / Financial institutions.Further, on failure of the lone Resolution Plan to muster the requisite votes for approval in terms of the relevant provisions of The Insolvency and Bankruptcy Code, 2016, the Hon ble National Company Law Tribunal, Principal Bench, New Delhi (NCLT) has pronounced the order dated 27.05.2022.In terms of the above said order, NCLT has given necessary instructions for Liquidation of the Corporate Debtor, namely M/s Punj Lloyd as a going concern , with further directions and Mr. Ashwini Mehra, Resolution Professional of the Company has been appointed as the Liquidator of the Company. NCLT has subsequently passed order(s) granting extension of time for completion of the process of Liquidation of the Company on going concern basis and necessary intimation in this regard has been sent to the Stock Exchange(s) from time to time.
Awaiting price reaction for this filing.
Punj Lloyd Limited, which has been under Corporate Insolvency Resolution Process (CIRP) since March 2019, has informed the exchanges that the National Company Law Tribunal (NCLT) has ordered its liquidation as a going concern. The only resolution plan submitted failed to get the required creditor approval, and the NCLT pronounced the liquidation order on May 27, 2022. Mr. Ashwini Mehra, earlier appointed as Resolution Professional, is now acting as the Liquidator. The NCLT has granted multiple extensions to complete the liquidation process, with this being a further compliance update filed on July 3, 2025.
This is highly negative for shareholders — liquidation of the company typically means equity holders are the last in line to receive any value, and most often get nothing. The stock has been suspended/trading in the junk category for years, and this update confirms there is no revival plan, only a wind-down of the business.