NCLT Extends Punj Lloyd Liquidation Deadline Amid Vital Ongoing Projects
The National Company Law Tribunal (NCLT) has extended the liquidation deadline for engineering firm Punj Lloyd to March 12, 2026. This extension considers ongoing critical projects essential to national growth and aims to facilitate value maximization through a 'going concern' sale process, safeguarding jobs in the company.
- Country:
- India
The deadline for the liquidation process of engineering and construction giant Punj Lloyd has been extended by the National Company Law Tribunal (NCLT) to March 12, 2026. This comes as the company is actively engaged in several pivotal projects crucial for national development.
NCLT's decision follows an appeal from Punj Lloyd's liquidator, highlighting the company's role in significant projects, including collaborations with NPCIL and NHAI. The tribunal noted that preserving the company's going concern status is essential for value maximization and job security.
A meeting of Punj Lloyd's Stakeholders Consultation Committee is slated for October 13, 2025, to strategize the company's liquidation sale process. The company currently employs approximately 1,304 people directly and indirectly, with the potential for job preservation under the ongoing concern sale.
(With inputs from agencies.)
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