PNC Infratech Limited has received a settlement amount of ₹20.00 Crore (Rupees Twenty Crores only) in relation to the Gwalior Bypass Project Ltd. The company had submitted a Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) in 2020, which was approved by the Committee of Creditors (CoC) but not by the Hon'ble NCLT due to ongoing applications and counter-applications from other stakeholders, including Mr. Nakul Bharana, the erstwhile Director of the Corporate Debtor. Considering the protracted proceedings, the performance bank guarantee of ₹29.51 Crores submitted in August 2020 having been valid for nearly six years, and the significant expenditure of time, effort, and financial resources, PNC Infratech decided not to pursue the Resolution Plan further. Consequently, the company entered into an amicable settlement with Mr. Nakul Bharana. As part of this settlement, PNC Infratech received ₹20.00 Crore as compensation for costs incurred. The settlement was finalized, and a No Objection Certificate (NOC) was issued to Mr. Nakul Bharana on April 7, 2026. This settlement fully and finally resolves the matter. Additionally, the company has closed its trading window for dealing in securities, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
