The hearing on PSP Projects' (NSE:PSPPROJECT, BOM:540544) petition against the encashment of 246 million Indian rupees in mobilization bank guarantees by the Superintendent Engineer, Bareilly, and others has been adjourned to Monday, Jan. 20, due to the absence of the respondents' advocates, the company said in a Saturday filing with the Indian bourses.
The petition, filed before the Commercial Court, Lucknow, stems from a dispute over the termination of PSP Projects' contract to build a residential building in Badayn, Uttar Pradesh.
The company contends that the termination was unjustified, lacked consideration of its explanations, and violated principles of natural justice.
PSP Projects said the encashment would not significantly impact its finances as 178.7 million rupees of the mobilization advance was already retained.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。