Punj Lloyd to go under the hammer at reserve price of Rs 308 cr; e-auction on 4th Aug

The 13^th round of e-auction of assets of Punj Lloyd Limited under the liquidation process will take place on 4^th August. The company, which is in liquidation, is being offered for sale on a going concern basis, as well as in various sets of assets. The last date for submission of eligibility documents is August 1, 2025. The reserve price for Sale of Punj Lloyd Limited as a whole (Going Concern Basis) is fixed at Rs 308 crore.

The deadlines for submitting the Earnest Money Deposit (EMD) and the e-auction dates for several asset sets have been adjusted.

Here’s a breakdown of the key asset sets and their revised auction details:

• Asset Set 1: Sale of Punj Lloyd Limited as a whole (Going Concern Basis)
  • Reserve Price: INR 308.00 Crore
  • EMD Amount & Submission Deadline: INR 10.00 Crore on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 10:00 AM IST to 12:00 PM IST
• Asset Set 2: Sale of Arbitration Assets of Punj Lloyd Limited (Collective Basis)
  • Reserve Price: INR 159.00 Crore
  • EMD Amount & Submission Deadline: INR 10.00 Crore on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 3:00 PM IST to 5:00 PM IST
• Asset Set 3: Sale of Land at Sidhudurg District, Maharashtra (Collective Basis)
  • Reserve Price: INR 63.50 Crore
  • EMD Amount & Submission Deadline: INR 6.35 Crore on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 3:00 PM IST to 5:00 PM IST
• Asset Set 4: Sale of Land at Mehasana, Gujarat (Standalone Basis)
  • Reserve Price: INR 10.20 Crore
  • EMD Amount & Submission Deadline: INR 1.02 Crore on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 3:00 PM IST to 5:00 PM IST
• Asset Set 5: Sale of Plant & Machinery at RSRP site at Chhattisgarh (Standalone Basis)
  • Reserve Price: INR 81.00 Lakh
  • EMD Amount & Submission Deadline: INR 8.10 Lakh on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 3:00 PM IST to 5:00 PM IST
• Asset Set 6: Sale of Leasehold Land, Building and Plant & machinery at Malanpur, Madhya Pradesh (Collective Basis)
  • Reserve Price: INR 24.00 Crore
  • EMD Amount & Submission Deadline: INR 2.40 Crore on or before August 1, 2025
  • E-Auction Date & Time: August 4, 2025, from 3:00 PM IST to 5:00 PM IST

The Liquidator, Ashwini Mehra, has clarified that if a Highest Bidder is declared for Asset Set 1 (Sale of the Company on a going concern basis), the Liquidator reserves the right to cancel the e-auction of all Asset Sets under Categories C and D. Additionally, the Liquidator can cancel the e-auction of any or all categories and/or set of assets being sold under the 13th round of e-auction.

All other terms of the E-auction notice and the Asset Sale Process Memorandum dated June 30, 2025, remain unchanged. An addendum to the Asset Sale Process Memorandum dated July 22, 2025, has been uploaded on the company’s website (https://www.punjlloydgroup.com/liquidation) and the e-auction website (https://baanknet.com/).

Interested bidders for the respective categories and/or asset sets are required to submit an Affidavit confirming that they do not suffer from any ineligibility under Section 29A of the IBC, to the extent applicable. The last date for submission of the Expression of Interest along with this affidavit is the same as the EMD submission deadline for the respective asset sets. If found ineligible at any stage, the earnest money and any deposited amounts will be forfeited by the Liquidator.

For further clarification, interested parties can contact Mr. Ashwini Mehra at LQ.PUNJ@in.gt.com or Mehra.ashwini@gmail.com, or Mr. Surendra Raj Gang at Surendra.raj@in.gt.com, who are representatives of GT Restructuring Services LLP, professional advisors to the Liquidator.

Punj Lloyd was pushed into insolvency after ICICI Bank filed a petition with the NCLT in March 2018 over unpaid dues of ₹854 crore. The tribunal admitted the petition, marking the beginning of a lengthy resolution process that still remains incomplete. The company had total outstanding dues of ₹13,386 crore owed to more than 1,097 creditors, including both financial and operational creditors.

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