VPRPL gets contract termination notice from North Western Railway
VPRPL · price
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VPRPL received a termination notice from North Western Railway for its Jaipur-Sawai Madhopur Doubling Project contract. The contract has been rescinded and balance work will be carried out without the company. Financial impact: forfeiture of performance guarantee and security deposit through encashment of bank guarantee worth about 88.69 million rupees. The company has filed a writ petition and stay application in Rajasthan High Court Jodhpur on 14 Jan 2026, seeking to quash the termination and stop the bank guarantee encashment.
Negative near-term; about 88.69 million rupee bank guarantee at stake. Company is challenging the termination in court, outcome pending.