Adani Infra Acquires Punj Lloyd For ₹281.10 Crore In NCLT-Approved Deal

New Delhi: Adani Infra (India) Limited has taken over Punj Lloyd Limited through a court-approved acquisition plan. The National Company Law Tribunal (NCLT) gave the green light on February 12, 2026, allowing the sale to go ahead for Rs 281.10 crore.

The NCLT’s New Delhi Bench approved the sale of Punj Lloyd under liquidation as a going concern. The deal, finalized through a 14th round of e-auction, lets Adani Infra purchase the company without past liabilities. The reserve price was set at Rs 281.10 crore, which Adani Infra matched.

Adani Infra has already deposited Rs 28.11 crore as earnest money. The remaining Rs 252.99 crore must be paid within 30 days of the NCLT order. The sale includes the company’s assets such as land, equipment, and cash, but excludes certain previously sold or exempted properties. The buyer will take over the business on an “as is where is” basis.

According to the filing, the liquidator ran the sale process across 14 rounds and grouped assets into categories. The main category—Category A—included the full company as a going concern, while other asset sets (B and C) cover arbitration claims and individual properties, respectively.

This acquisition is aimed at keeping the company operational. The buyer is protected from old liabilities under Section 32A of the Insolvency and Bankruptcy Code (IBC), helping ensure a fresh start. The sale is expected to preserve the enterprise value of Punj Lloyd.

Disclaimer: This article is based only on official disclosures made to stock exchanges and the NCLT order. It does not include any external sources or commentary.