WPIL Ltd debarred by Madhya Pradesh Jal Nigam

WPIL Limited has received a Letter/Order from one of its Clients, Madhya Pradesh Jal Nigam alleging delay in completion of prescribed contractual milestones on certain on-going contracts (under contest), consequently debarring the Company from participating in any of its future tenders, bids and procurement process for a period till the completion and commissioning of certain on-going Contracts or for a period of three years, whichever is earlier. The said Order shall however have no impact on the existing financial or operational activities of the Company. Further, the Company is contemplating appropriate legal remedies, if any, on the same.

Source : Equity Bulls

Keywords

WPIL MadhyaPradeshJalNigam Debarred