Date: September 17, 2026
Event Disclosure
Details of Invocation
Bank Guarantee Invoked:
- Amount: ₹49,52,59,040 (Rupees Forty Nine Crore Fifty Two Lakh Fifty Nine Thousand and Forty Only)
- Issued by: HDFC Bank Limited
- Beneficiary: NTPC Limited
- Type: Mobilization Advance Bank Guarantee
Insurance Performance Surety Bonds Invoked:
Three bonds issued by Bajaj General Insurance Limited in favor of NTPC Limited:
- Bond 1: ₹34,51,72,694
- Bond 2: ₹4,08,91,016
- Bond 3: ₹2,73,07,288
- Total Aggregate: ₹41,33,70,998 (Rupees Forty One Crore Thirty Three Lakh Seventy Thousand Nine Hundred Ninety Eight Only)
Total Financial Exposure: ₹90,86,30,038 (Ninety Crore Eighty Six Lakh Thirty Thousand and Thirty Eight Only)
Contractual Context
The invocation relates to three specific contract agreements:
- Contract No. CS-9575-171A-9-FC-COA-7978
- Contract No. CS-9575-171A-9-SC-COA-7979
- Contract No. CS-9575-171A-9-TC-COA-7980
The company had issued a notice of termination for these contracts on September 15, 2026, just two days prior to the invocation notice.
Financial and Operational Impact
- The financial impact is limited to the amounts encashed/paid pursuant to the invocation
- No material impact currently on business operations or other activities of the company
- The company is evaluating the matter and exploring appropriate legal and contractual remedies available
Company Status
The company was formerly known as G.R. Agarwal Builders and Developers Limited