PNC Infratech Limited has announced a settlement regarding the Gwalior Bypass Project Ltd (Corporate Debtor) resolution plan. The company had submitted a resolution plan in 2020, which was approved by the Committee of Creditors (CoC) but not by the National Company Law Tribunal (NCLT) due to ongoing applications and counter-applications from other stakeholders, including the erstwhile Director, Mr. Nakul Bharana. Considering the protracted proceedings, the company's performance bank guarantee of ₹29.51 Crore had been valid for nearly six years, and significant time, effort, and financial resources were expended. Consequently, PNC Infratech decided not to pursue the resolution plan further. An amicable settlement has been reached with Mr. Nakul Bharana, the erstwhile/suspended Director of the Corporate Debtor. As part of this settlement, PNC Infratech has received ₹20.00 Crore as compensation for the costs incurred. This amount was received in the form of Demand Draft(s) on April 7, 2026 (night). In return, the company issued a No Objection Certificate (NOC) to Mr. Nakul Bharana. The company has also stated that the trading window for dealing in its securities by designated employees and connected persons is closed, in compliance with SEBI regulations.
