GR Infraprojects Limited has announced that NTPC Limited has invoked a Mobilization Advance Bank Guarantee amounting to ₹49,52,59,040 and three Insurance Performance Surety Bonds aggregating to ₹41,33,70,998. The total invocation stands at ₹90,86,30,038. The company is currently evaluating the matter and its legal recourse following the invocation, which relates to specific contract numbers.
NTPC Invokes Significant Guarantees Against GR Infraprojects
GR Infraprojects Limited disclosed today, September 17, 2026, that it has received communications from NTPC Limited regarding the invocation of substantial financial instruments. These include a Mobilization Advance Bank Guarantee and three Insurance Performance Surety Bonds. The total value of the invoked instruments amounts to approximately ₹90.86 crore.
Financial Details of Invocation
The specific details provided by GR Infraprojects indicate that the Mobilization Advance Bank Guarantee, issued by HDFC Bank Limited in favour of NTPC Limited on behalf of the company, amounts to ₹49,52,59,040. Additionally, three Insurance Performance Surety Bonds, issued by Bajaj General Insurance Limited in favour of NTPC Limited on behalf of the company, aggregate to ₹41,33,70,998.
Company’s Response and Evaluation
GR Infraprojects stated that it is currently examining the situation thoroughly and evaluating the appropriate course of action, in line with its contract agreements and applicable laws. The company is also considering available remedies. The invocation is related to Contract Nos. CS-9575-171A-9-FC-COA-7978, CS-9575-171A-9-SC-COA-7979, and CS-9575-171A-9-TC-COA-7980. GR Infraprojects had previously issued a notice of termination for these contracts on September 15, 2026.
Impact Assessment
The company noted that the financial impact is limited to the amounts encashed or paid pursuant to these invocations. While the invocation itself is a significant event, GR Infraprojects has indicated that there is presently no material impact on the company’s business operations or other activities arising from this matter. The company is actively exploring legal and contractual remedies to address the situation.
Source: BSE
