Vishnu Prakash R Punglia Limited
Background Context
This disclosure is in continuation of earlier intimations dated 13-05-2026 and 14-05-2026 regarding termination notice from North Western Railway for the contract "Major upgradation of Bikaner Railway Station of Bikaner Division of North Western Railway (On EPC)" awarded to Joint Venture VPRPL-KSIPL BKN JV, where Vishnu Prakash R Punglia Limited is a partner.
Court Order Details
- Case Reference: SB Civil Writ Petition No. 10651/2026
- Court: High Court of Judicature for Rajasthan, Jodhpur
- Judgment Reserved: 21-07-2026
- Judgment Pronounced: 17-08-2026
- Detailed Judgment Received: 19-08-2026
Key Court Directives
1. The petitioner (VPRPL-KSIPL BKN JV) is granted liberty to avail appropriate and efficacious remedy before the competent forum.
2. Status quo as on the date of judgment reservation (21-07-2026) shall be maintained for 30 days from the date of pronouncement (17-08-2026).
3. Bank guarantee furnished by VPRPL-KSIPL BKN JV shall not be encashed for 45 days from date of pronouncement (17-08-2026).
Financial Implications
- Encashment of bank guarantee is stayed by court order for 45 days
- Forfeiture of Performance Guarantee through encashment of Bank Guarantee and Security Deposit is stayed for 45 days
- Fresh NIT (Notice Inviting Tender) of department cannot be decided as no LOA (Letter of Acceptance) was issued up to 21-07-2026
Company Action
The company has decided to avail appropriate and efficacious remedy by filing petition before competent forum as per the liberty granted by the Hon'ble Court.