MoneyWorks4Me

UK court orders Punj Lloyd to pay fine of $26 million

02 Jun 2016 Evaluate

Punj Lloyd and its subsidiary Punj Lloyd Upstream (PLUL) have been ordered to pay by the High Court of Justice, Queen’s Bench Division, Commercial Court, UK sum of $26,173,659.16 (plus summary assessment costs amounting to GBP 75000), to International Finance Corporation, towards their claims. The company is considering various legal options and shall take appropriate steps in respect of such order.

Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.


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