Adani Infra acquires debt-ridden Punj Lloyd for ₹281 Cr, ends IBC saga

• Adani Infra (India) Ltd completed the acquisition of debt-ridden Punj Lloyd Ltd for ₹281.10 crore under the Insolvency and Bankruptcy Code (IBC) liquidation process.
• The payment was made on March 10, 2026, following an NCLT order dated February 12, 2026, which approved Adani Infra's acquisition plan.
• Adani Infra will assume liabilities for bank guarantees, including 10% of disputed and 25% of ongoing project guarantees.
• Punj Lloyd faced an insolvency plea by ICICI Bank in March 2019 due to a total debt of ₹6,000 crore.
• NCLT ordered Punj Lloyd's liquidation in June 2022 after lenders failed to find a buyer or approve a revival plan.