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NCLT extends Punj Lloyd's liquidation by 6 months
M & A Critique
|November 2025
The insolvency tribunal NCLT has extended the deadline to complete the liquidation process of engineering and construction firm Punj Lloyd by six months to March 12, 2026.
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The NCLT has granted an extension after considering that debt-ridden Punj Lloyd is currently executing several projects, some of which are critical and vital for the nation's growth.
Moreover, the sale of Punj Lloyd as a whole 'as a going concern' would result in value maximisation, the National Company Law Tribunal (NCLT) observed.
The liquidator of Punj Lloyd had moved an application before the NCLT, seeking extension of the deadline as it is currently executing various projects, which are critical for the nation's growth and safety, like projects with NPCIL and NHAI.
For the successful completion of these projects, it is critical that the going concern status of the corporate debtor is not affected, he submitted.
This story is from the November 2025 edition of M & A Critique.
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