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Delhi HC Stays PGCIL Order against KEC International

2025-12-23

KEC International has informed stock exchanges of a significant legal development concerning its eligibility to participate in tenders floated by Power Grid Corporation of India (PGCIL), in a disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

The update follows the company’s earlier intimation dated November 18, 2025, regarding an order issued by PGCIL that excluded KEC International from participating in its tenders for a period of nine months. Challenging the said order, the company filed a writ petition before the Hon’ble High Court of Delhi.

After hearing the matter, the Delhi High Court, through its order dated December 17, 2025, has kept the PGCIL order in abeyance. The order was received by the company on December 19, 2025. The court has directed PGCIL to pass a fresh or supplementary order that expressly addresses all the contentions raised by KEC International in its reply to the show-cause notice issued by the power transmission major.

Importantly, the High Court has also permitted KEC International to continue participating in all ongoing bids, including those floated by PGCIL, until the completion of the revised process by the public sector utility. This interim relief enables the company to maintain business continuity while the matter remains under consideration.

In its disclosure, KEC International reiterated its commitment to the highest standards of corporate governance, ethics and regulatory compliance. The company stated that it conducts its operations with integrity, transparency and strict adherence to applicable laws and regulations.

The disclosure has been made for the information of stakeholders and for record purposes, in line with regulatory requirements.

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