Punj Lloyd weighs buying assets of arms

Punj Lloyd is examining the option of buying some of the assets of its arms -- Punj Lloyd Pte Ltd (PLPL) and Sembawang Engineers and Constructors Pte Ltd (SEC) -- in Singapore.
"The company is considering the option to purchase some of the assets/investment of the above subsidiaries and would be in discussion with the liquidators in this regard," Punj Lloyd said in a filing to the BSE.
The Singapore High Court (High Court) in its hearing in June 2016 had placed PLPL under judicial management.
"We wish to further inform that the judicial manager did not accept the rehabilitation proposals submitted in respect of PLPL and SEC," it said.

After PLPL and SEC came under judicial management, the company made the necessary adjustments in its financials for 2016-17, it added.