RailTel Corporation of India Ltd. has cancelled a ₹209.78 crore work order awarded to the State Project Director under the Bihar Education Project Council (BEPC). The termination, disclosed to NSE and BSE, cites non-compliance with key provisions of India’s General Financial Rules, 2017, marking a significant governance-led decision.
RailTel Corporation of India Ltd. has formally announced the cancellation of a major ₹209.78 crore work order issued under the Bihar Education Project Council (BEPC). The contract, originally awarded to the State Project Director (SPD) for implementing the Education Quality Enhancement initiative in Bihar, was terminated due to non-fulfillment of obligations under India’s General Financial Rules (GFR), 2017.
The cancellation was communicated to both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 24, 2025, reinforcing RailTel’s commitment to compliance and transparency in public sector engagements.
Key Highlights:
Contract Value and Scope: The cancelled work order was valued at ₹209,78,63,937 and was part of the PM SHRI initiative aimed at enhancing education infrastructure across Bihar.
Reason for Termination: RailTel cited violations of Rule 144 (xi) and Rule 161 (i) of the GFR, 2017, which pertain to procurement integrity and contractual compliance.
Regulatory Disclosure: The cancellation was officially intimated to NSE and BSE under SEBI’s Listing Obligations and Disclosure Requirements, 2015.
Governance and Oversight: The decision reflects RailTel’s strict adherence to financial discipline and its zero-tolerance approach to procedural lapses.
Official Confirmation: The letter was signed by Jasmeet Singh Marwah, Company Secretary and Compliance Officer, ensuring accountability and clarity for stakeholders.
Sources: InvestyWise, Business Upturn, RailTel Corporation of India Ltd. Official Filing