Efforts on to make up for the lost time due to Covid-19: Punj Lloyd

Topics Punj Lloyd | Coronavirus

Punj Lloyd on Thursday said it is making efforts to make up for the lost time due to the COVID-19 pandemic, adding it does not foresee any significant impact due to the non-fulfilment of its contractual obligations towards customers.

The company is currently being managed by Resolution Professional Ashwini Mehra, as per the provisions of the Insolvency and Bankruptcy Code (IBC).

"With the graded opening of sites, the Company is making every effort possible to make up for the lost time due to the pandemic, during the year. "The impact of the lockdown disruption will have to assess from time to time and communicated as we progress into the financial year," the company said in a BSE filing.

It is premature to forecast the future impact with credibility at this stage, it added.

Adequate steps are being been taken to ensure effective internal financial controls and various austerity measures are taken, it said.

"At present, the Company does not foresee any significant impact due to the non-fulfilment of its contractual obligations to the customers or any other counter party arising out of Covid-19 pandemic," it added.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel