Deals26 Jul 2025, 11:11 pm
IL&FS Engineering and Construction Company Loses B2B Contract for Bhubaneswar Metro Project
AI Summary
IL&FS Engineering and Construction Company Ltd. has been informed by Ceigall India Ltd. about the termination of a sub-contract work pertaining to Part Design and Construction of Elevated Viaduct and Six Elevated Stations for the Bhubaneswar Metro Phase-I MRTS project by Delhi Metro Rail Corporation Limited (DMRC). The termination notice received by Ceigall India from DMRC has led to the cessation of the Company's arrangement with Ceigall India, as the contract was on a back-to-back basis. The Company is taking necessary steps for claiming claims/damages/compensation as per the available legal course of action, including the terms of the Sub-contract arrangement with Ceigall India Limited.
Key Highlights
- IL&FS Engineering and Construction Company loses B2B contract for Bhubaneswar Metro Project.
- Contract termination by Delhi Metro Rail Corporation Limited (DMRC).
- Ceigall India Limited notified the termination through email.
- Company taking legal action for claims/damages/compensation.
- Trading window for dealing/trading in the securities of the Company is closed for Designated Persons, their immediate relatives and persons with whom they have a material financial relationship till further notice.