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Court Can’t Direct Third Party : Delhi High Court trial court directing NBCC (India) Limited to deposit ₹1.48 crore in a fixed deposit receipt (FDR)

Newsmantra — Fri, 19 Jun 2026 11:03:32 +0000

The Delhi High Court has held that a court cannot direct a third party to deposit money in court in the absence of an admitted or crystallised liability, reiterating that garnishee orders can ordinarily be passed only after a decree is obtained and the debt sought to be attached is established as due and payable. Justice Tejas Karia relied on Value Advisory Services v. ZTE Corporation (2009) where there was no decree in favour of the petitioner therein and the alleged debt was disputed by the garnishee. The High Court did not consider it appropriate to direct the garnishee to deposit the amount therein.

The Court was dealing with a challenge to a trial court order directing NBCC (India) Limited to deposit ₹1.48 crore in a fixed deposit receipt (FDR) in a commercial suit arising out of a payment dispute between a contractor and a subcontractor. The dispute stemmed from a project awarded by NBCC to GNC Infra LLP for construction works relating to a National Investigation Agency (NIA) facility in Hyderabad. LIVE Law

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NBCC Maps Out Aggressive Growth Blueprint at Mumbai Investor Day 2026

Newsmantra — Fri, 05 Jun 2026 06:02:22 +0000

MUMBAI — NBCC (India) Limited successfully concluded its Investor Day 2026 in Mumbai, hosting over 120 institutional investors and financial analysts. The event highlighted the state-backed construction giant’s strategic pivot toward high-margin redevelopment projects, aggressive asset monetization, and its ultimate long-term ambition to achieve prestigious “Maharatna” status within the next four to five years.

The event concluded on a highly confident note, with management providing an upward-trending outlook targeting a PAT of ₹1,000–1,200 crore by FY27 as infrastructure transformation and complex urban redevelopments reach critical execution stages.

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NBCC Senior Executive Director Dr. Mahesh Chand Bansal Honoured with Bharat Gaurav Rashtriya Puraskar 2026

Newsmantra — Fri, 22 May 2026 10:07:44 +0000

NEW DELHI. Dr. Mahesh Chand Bansal, the Senior Executive Director of Finance at the government-owned construction and real estate major NBCC (India) Limited, has been conferred with the prestigious national award, the Bharat Gaurav Rashtriya Puraskar 2026. This esteemed honor was presented to him in recognition of his exceptional and outstanding contributions to public sector corporate financial management. The award highlights his exemplary professional dedication to driving financial efficiency, maintaining high standards of governance, and upholding corporate rules and ethics across large-scale public infrastructure and real estate operations.

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Srinivas Katikithala Inaugurates CII-NBCC Multi-Skill Centre in New Delhi

Newsmantra — Thu, 19 Feb 2026 14:09:14 +0000

NEW DELHI. Union Secretary of Housing and Urban Affairs Srinivas Katikithala inaugurated the CII-NBCC Multi-Skill Training Institute and Model Career Centre at Ghitorni in New Delhi, marking a significant step towards aligning vocational training with the needs of a modern workforce. The initiative is a strategic collaboration between NBCC (India) Limited and Confederation of Indian Industry, aimed at creating direct pathways to employment rather than limiting outcomes to certification. Senior officials, including Ravi Kumar Arora, Joint Secretary, MoHUA, NBCC Chairman and Managing Director K P Mahadevaswamy, and Director Commercial Dr. Suman Kumar, attended the launch. The institute will offer industry-aligned bridge courses tailored to high-growth sectors, combining NBCC’s infrastructure strength with CII’s industry expertise to build a job-ready talent pool for the Delhi-NCR region and enhance youth employability in line with evolving global economic demands.

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NBCC Secures ‘Excellent’ Rating in MoU Evaluation for 2024–25

Newsmantra — Tue, 03 Feb 2026 07:04:29 +0000

NEW DELHI. NBCC (India) Limited, a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, has achieved an ‘Excellent’ rating in the Memorandum of Understanding (MoU) evaluation for 2024–25, securing 97.58 marks. This marks the second consecutive year of the Company earning the top rating, having also received an ‘Excellent’ grade in the MoU evaluation for 2023–24, reaffirming its strong and consistent performance across key operational and governance parameters.

The achievement reflects NBCC’s proven track record in the successful execution of complex and large-scale projects in redevelopment, Project Management Consultancy (PMC), real estate development and overseas assignments. The Company has demonstrated excellence through timely project completion, strict adherence to safety and quality standards, and the adoption of environmentally responsible and sustainable construction practices. Its continued focus on green building norms, resource efficiency and modern construction technologies remains integral to its project execution philosophy.

NBCC plays a pivotal role in several flagship Government initiatives, particularly in the redevelopment of government housing and office complexes, contributing significantly to planned urban development and the vision of a Viksit Bharat. The recognition underscores the dedication and professionalism of NBCC’s workforce and reflects the confidence of stakeholders, clients and partner agencies in the Company’s capabilities. With a robust order book and a strategic focus on redevelopment projects, PMC works, PSU land monetisation, real estate development and overseas expansion, NBCC is well positioned to contribute meaningfully to India’s infrastructure growth and urban transformation.

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NBCC CMD Honoured for Leadership in National Anti-Malnutrition Initiative

Newsmantra — Wed, 07 Jan 2026 10:05:48 +0000

NEW DELHI. Shri K. P. Mahadevaswamy, Chairman and Managing Director of NBCC India Limited, was felicitated at Vigyan Bhawan, New Delhi, for his outstanding contribution to combating child malnutrition through NBCC’s nationwide corporate social responsibility programme. The recognition highlights his role in steering initiatives aimed at improving nutrition and health among underprivileged children in vulnerable regions across the country.

The award acknowledged NBCC’s programme that provides nutritious milk to children in Gadchiroli (Maharashtra), Ranchi (Jharkhand), and several districts of Telangana—areas facing long-standing child nutrition challenges. Under Mahadevaswamy’s leadership, the initiative has helped ensure essential daily nutrition for physical growth, cognitive development, and immunity, while already showing positive impacts such as improved health indicators, better school attendance, and increased community awareness about child nutrition.

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NBCC (India) Limited, has signed an MoU with the Board of Mumbai Port Authority (MbPA) for development of CGO Complex at Mumbai Port’s land

Newsmantra — Wed, 31 Dec 2025 10:11:46 +0000

MUMBAI. NBCC (India) Limited, has signed an MoU with the Board of
Mumbai Port Authority (MbPA) for development of CGO Complex at Mumbai
Port’s land near Cotton Green Depot, Mumbai. NBCC will look after the
execution of the work from Concept to commissioning.

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Shri K. P. Mahadevaswamy assumed the role of CMD of NBCC (India) Ltd.

Newsmantra — Tue, 03 Oct 2023 05:30:19 +0000

Shri K. P. Mahadevaswamy assumed the pivotal role of .CMD of NBCC (India) Ltd.along with additional responsibility of Chairman of Hindustan Steelworks Construction Ltd. (HSCL) and Hospital Services Consultancy Corporation Limited (HSCC).He was earlier director (commercial) at NBCC Embarking on his journey with NBCC as .DGM (Engg.) in 2005, Shri K. P. Mahadevaswamy exhibited exceptional leadership and expertise and successfully went up the ladder in the organization to become CMD. Shri Swamy has over 32 years of extensive& rich experience in the construction industry.

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Shri K P Mahadev Swamy selected for CMD, NBCC

Newsmantra — Wed, 21 Jun 2023 11:49:34 +0000

The PESB has recommended the name of Shri K P Mahadev Swamy for the post of Chairman & Managing Director of NBCC (India) Limited. Currently, Swamy is working as Director (Commercial), NBCC (India) Limited. The CMD post in NBCC is scheduled to fall vacant with the superannuation of Shri P K Gupta on 30.09.2023. Altogether nine candidates were interviewed for the post.

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