In order to protect interest of investors and integrity of securities market, SEBI restrained Valecha Engineering and its promoters Jagdish K Valecha & Valecha Investment Private Limited from raising capital from public for three years.
Valecha Engineering has won an order to build canal at the Indo-Nepal border. The project will help irrigate around 2.8 lakh hectares. The value of the project is around Rs 360 crore.
Valecha Engineering has recently commissioned build-operate-transfer (BOT) project is facing execution pressure. However, managing director Jagdish K Valecha indicated that the company has been able to commission its first BOT road project in Madhya Pradesh and Indore 11 months ahead of time.
Jagdish K Valecha, the managing director of Valecha Engineering tells CNBC-TV18 that out of its three Build Operate and Transfer (BOT) projects, one has been completed almost a year ahead, which should give them an additional Rs 20 crore odd.