SEPC work order worth ₹230 Crores cancelled by MOIL

SEPC Limited informed the stock exchanges on May 22, 2026, regarding the cancellation of a significant work order by MOIL Limited. The order, initially disclosed to the exchanges on December 29, 2025, was for designing, construction, furnishing, and equipping a 3rd Vertical Shaft on a turnkey basis. The total value of the cancelled order was ₹230 Crores, including taxes.

Details of the Cancellation

The company stated that no execution had commenced on the project prior to the cancellation. MOIL Limited, a Government Undertaking, decided to cancel the work order, leading to specific financial implications for SEPC Limited. The primary consequence of this termination is the forfeiture of the Earnest Money Deposit (EMD).

Financial Impact

As a result of the cancellation, the EMD amounting to ₹50 Lakhs has been forfeited by MOIL Limited. This forfeiture represents a direct financial impact arising from the termination of the contract. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Particulars	Details
Name of Client	MOIL Limited (Government Undertaking)
Nature of Contract	Designing, construction, furnishing & equipping of 3rd Vertical Shaft on turnkey basis
Total Order Value	₹230 Crores
Execution Status	NIL (No execution commenced)
Reason for Termination	Work Order cancelled by MOIL Limited
Financial Impact	Forfeiture of Earnest Money Deposit (EMD) amounting to ₹50 Lakhs

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.78%	+5.18%	+1.45%	-20.74%	-45.94%	+77.47%

SEPC Limited has received an Administrative Warning Letter from the Securities and Exchange Board of India (SEBI) dated April 30, 2026. The communication was addressed to the company regarding its compliance with disclosure norms under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Details of the Violation

The regulatory authority cited a delay in the disclosure of specific proceedings. The violation pertains to the delayed announcement of arbitration proceedings and a settlement agreement involving Hindustan Copper Limited. SEPC disclosed these details in a filing submitted to the National Stock Exchange of India Limited and BSE Limited on May 21, 2026.

Impact Assessment

In its disclosure, the company clarified the consequences of this regulatory action. SEPC stated that there is no financial or operational impact on the entity resulting from the Administrative Warning Letter. The filing was re-submitted under the specific category “Order/Communication from Regulatory Authority” to ensure alignment with Schedule III requirements of the LODR Regulations.

Regulatory Disclosure Parameters

The following table outlines the key parameters disclosed by the company in compliance with the regulations:

Parameter	Details
Name of Authority	Securities and Exchange Board of India (SEBI)
Nature of Action	Administrative Warning Letter
Date of Receipt	April 30, 2026
Details of Violation	Delayed disclosure of arbitration proceedings and settlement agreement with Hindustan Copper Limited
Financial/Operational Impact	No financial or operational impact on the Company