PSP Projects Limited — Others, 21-01-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

PSP Projects Limited has announced a board meeting regarding updates on ongoing litigation, specifically related to a petition filed against the Superintendent Engineer, Bareily, in the Hon’ble Commercial Court, Lucknow. The hearing has been adjourned as the Respondent's Advocates requested more time for their response. Meanwhile, the Respondent has encashed Performance Bank Guarantees totaling INR 8.02 Crores, which the company disputes as unjustifiable given the pending court proceedings. The company plans to consult Legal Advisors to determine future actions that align with stakeholder interests. This situation introduces potential risk for investors, as the financial and operational implications of the ongoing litigation could impact future performance.