Punj Lloyd Liquidator Files Complaint Against BGJC & Associates

Bankrupt Punj Lloyd Ltd. said its liquidator filed a complaint with the National Financial Reporting Authority (NFRA) against the company’s statutory auditor BGJC & Associates LLP.

The liquidator filed the complaint against BGJC & Associates for non-cooperation in finalizing the audited results of the company since FY19, Punj Lloyd said in a stock exchange announcement.

The liquidator was appointed by the National Company Law Tribunal on 27 May 2022 to carry on the process of liquidation of the company as a going concern.

BGJC & Associates -- whose advisory board includes Prime Database Promoter Prithvi Pal Singh Haldea and Storm the Norm book author Anisha Motwani -- was established in 1982, and converted to LLP in January 2017, according to its website.

The firm, founded by Salil Bhandari and R.C. Gupta, delivers services to clients across sectors, including agriculture, auto components, education and real estate, it said.

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