PNC Infratech Ltd Receives Rs. 20.00 Crore in Settlement from Gwalior Bypass Project Matter
PNC Infratech Ltd has received an amount of Rs. 20.00 Crore as compensation following an amicable settlement concerning the Gwalior Bypass Project Ltd matter. The settlement was reached with Mr. Nakul Bharana, the erstwhile/suspended Director of the Corporate Debtor.The company confirmed that the Resolution Plan submitted by PNC Infratech Ltd and approved by the Committee of Creditors (CoC) had not received approval from the Hon'ble NCLT. This delay was attributed to applications and counter applications filed by various stakeholders, including Mr. Nakul Bharana, before the Hon'ble NCLT and Hon'ble NCLAT.
Considering the protracted proceedings, the company decided not to pursue the matter regarding the Resolution Plan further. Instead, PNC Infratech Ltd entered into an amicable settlement with Mr. Nakul Bharana.
Under the terms of the settlement, the company received Rs. 20.00 Crore in the form of Demand Drafts drawn in favor of the company. This amount compensates the company for costs incurred to fully and finally settle the matter. Furthermore, the company issued a No Objection Certificate (NOC) to Mr. Nakul Bharana on April 7, 2026.
Key details of the settlement are presented below:
| Particulars | Details |
|---|---|
| Name of Parties to the Settlement | Company: PNC Infratech Limited; Suspended Director Corporate Debtor: Mr Nakul Bharana |
| Significant Terms and Conditions of the Settlement | 1. The Suspended Director shall pay the Company the Settlement Amount by way of Demand Draft. 2. The Company shall execute a No- Objection Certificate ("NOC") stating that it has no objection if the Financial Creditors and other stakeholders of the Company were to consider any offer by the Suspended Director Mr. Nakul Bharana under Section 12A of the IBC. |
| Date of execution of the order(s)/contract(s)/Consideration Amount | Rs. 20.00 Crore received by the Company as settlement amount being compensation towards the costs incurred by the Company (night) on April 7, 2026. |
This transaction concludes the company's involvement in the resolution process for Gwalior Bypass Project Ltd.
PNCINFRA Stock Price Movement
Today, PNC Infratech Limited shares gained 7.14% to settle at ₹183.99, an increase of ₹12.26. The stock saw robust interest today, with total traded volume reaching 1.92 million shares.Source:
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