The Kanpur-Lucknow Expressway, also known as the Awadh Expressway, has come under scrutiny after major defects, including premature failures and slippages, emerged within weeks of its inauguration. The National Highways Authority of India (NHAI) has now barred PNC Infratech, the project's concessionaire, from bidding for its projects for three years.
The three-year debarment is the maximum penalty permitted under the contract. PNC Infratech disclosed the NHAI action in a regulatory filing, following which its shares fell 20% on Tuesday.
