NTPC invokes ₹91 crore guarantees against GR Infraprojects

NTPC invoked a ₹49.53 crore mobilisation advance bank guarantee (via HDFC Bank) and three Bajaj General Insurance surety bonds totalling ₹41.34 crore against GR Infraprojects. The action follows GR Infraprojects' September 15 termination notice on three BESS-related EPC contracts, citing force majeure and war risk. The company says financial impact is limited to amounts actually encashed.