PNB puts Rolta group’s Gurugram commercial property on the block at ₹250 crore reserve

Punjab National Bank (PNB) will auction a commercial property in Gurugram owned by Rolta Private Limited, a promoter-group company of the bankrupt Rolta India. The reserve price is ₹250 crore.

The property sits on a 7,800 sq m plot at Plot No. 187, Phase 1, Udyog Vihar Industrial Estate, Gurugram. The e-auction will be held on November 16, 2026, according to a notice the bank published in Financial Express on Wednesday.

The sale is being run by PNB’s Stressed Asset Management Branch (SAMB) in Mumbai, which operates out of Pragati Tower in the Bandra-Kurla Complex. The notice names Rolta Private Limited as the owner and borrower. It says the bank has taken physical possession of the property and describes it as a modern commercial building in one of Gurugram’s main business hubs, with access to NH-8, IGI Airport, Cyber City and the Metro.

The property will be sold on an “as is where is, as is what is and whatever there is” basis to the highest bidder. Prospective buyers can inspect it by prior appointment. The notice does not state the dues PNB is seeking to recover, the earnest money deposit or the bid increment. It refers bidders to a detailed auction notice for these. Saurabh Athaiya, chief manager, and G L Das, assistant general manager, are listed as contacts.

Promoter-side recovery

Rolta Private Limited is part of the promoter group of Rolta India. Shareholding data shows it held 4,30,546 shares, or 0.26%, in Rolta India, alongside Rolta Properties, Rolta Resources and Rolta Shares and Stocks, with founder Kamal K Singh and family holding the rest of the 2.31% promoter stake. The entity once held a much larger stake. In September 2020 it held 6.23% of Rolta India, and 95.83% of those shares were pledged.

The flagship company is close to the end of its own insolvency. The NCLT admitted Rolta India into the corporate insolvency resolution process on January 19, 2023, on a petition Union Bank of India filed in 2020. The company entered insolvency with admitted liabilities of more than ₹14,074 crore, against claims of over ₹22,546 crore. The Mumbai bench of the NCLT approved Ashdan Properties’ ₹900 crore resolution plan on December 15, 2025. The NCLAT later dismissed the Department of Telecommunications’ appeal against the plan, clearing the way for Ashdan to take over.

That resolution covered Rolta India alone. Lenders are pursuing assets held by promoter-group entities such as Rolta Private Limited separately, through SARFAESI enforcement. An earlier PNB auction listing named Rolta Pvt Ltd as borrower for a unit at World Trade Centre, Cuff Parade, Mumbai, with a reserve of ₹5.31 crore and an auction date of April 21, 2025.

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