The Proceedings of 31st AGM held and concluded n 29.10.2025 are enclosed.
Awaiting price reaction for this filing.
Punj Lloyd Ltd (currently in liquidation) held its 31st Annual General Meeting on October 29, 2025, via video conference, chaired by the Liquidator Mr. Ashwini Mehra. The AGM covered the significantly delayed financial statements for FY 2018-19. The key highlight was the Liquidator's update on the liquidation process: Adani Infra (India) Limited has been declared the successful bidder for Punj Lloyd as a going concern at a reserve price of INR 281.10 crores. Adani Infra has already deposited INR 28.11 crores (10%) as earnest money, and a demand letter for the balance amount has been issued. Five business items were tabled, including adoption of FY19 financial statements, appointment of new statutory auditors (M/s. Kashyap Sikdar & Co.) to fill a casual vacancy and for a 5-year term, and ratification of cost auditors' remuneration. E-voting results and the scrutinizer's report will be submitted separately to the stock exchanges.
For shareholders, this confirms a concrete step toward monetisation of the company under liquidation, with a credible buyer (Adani Group entity) locked in at a defined price. The delayed FY 2018-19 AGM signals ongoing resolution delays, but the successful bidder declaration is a positive milestone that may determine eventual recovery for shareholders and creditors.