Project Update13 May 2026, 08:11 pm
Vishnu Prakash R Punglia: Bikaner Project Termination
AI Summary
Vishnu Prakash R Punglia Ltd received a termination notice from North Western Railway for the Bikaner Railway Station upgradation project awarded to their joint venture, VPRPL-KSIPL BKN JV. The contract is rescinded due to delays, with the remaining work to be completed independently. VPRPL faces financial implications of ₹199.472 million and forfeiture of guarantees worth ₹191.215 million. The company has filed a writ petition in Rajasthan High Court seeking to quash the termination order.
Key Highlights
- North Western Railway terminates Vishnu Prakash R Punglia's Bikaner Railway Station upgradation project contract.
- VPRPL faces a financial impact of ₹199.472 million due to the termination.
- Forfeiture of performance and security deposits totaling ₹199.472 million is expected.
- VPRPL has filed a writ petition in Rajasthan High Court against the termination.
- The termination is attributed to delays in handing over the right of way and changes in scope.