SEPC Ltd said on August 7, 2026, that it has challenged a banning order communicated by Telecommunications Consultants India Limited, according to a filing submitted to BSE. The SEPC TCIL banning order follows earlier exchange disclosures concerning a Letter of Intent for a smart prepaid metering project in Punjab and its subsequent cancellation.

The company said it strongly contests the basis of the order, disputes the allegations and has approached the appropriate authorities to protect its business interests and shareholder value. SEPC is pursuing legal remedies seeking an immediate stay and the subsequent quashing of the order.

What SEPC disclosed to exchanges

  • TCIL communicated the banning order to SEPC.
  • The company has rejected TCIL's contentions and allegations.
  • SEPC has challenged the order before the appropriate authorities.
  • It will disclose material developments under SEBI LODR Regulations, 2015.

The latest disclosure is linked to TCIL's letter dated August 5, 2026. SEPC submitted the update in continuation of its stock exchange intimations dated February 7 and March 3, 2026.

Those earlier disclosures concerned the Letter of Intent issued by TCIL for the Smart Prepaid Metering Project in Punjab, followed by cancellation of the proposed engagement. The current filing does not disclose any order value, financial impact or duration of the banning order.

Company seeks stay and quashing

SEPC said it acted immediately to challenge the measure and is pursuing all necessary legal remedies. Its stated objectives are to secure an immediate stay and ultimately have the order quashed. The filing represents the company's position on the dispute; it does not disclose any decision by the authorities on SEPC's challenge.

The company has committed to keeping both BSE and the National Stock Exchange of India informed about any material developments arising from the proceedings.

For investors, the matter centres on the legal and business implications of the TCIL banning order after cancellation of the Punjab metering project. However, SEPC's filing provides no quantified assessment of the potential effect on revenue, operations or future bidding activity.

The disclosure was signed by T Sriraman, Company Secretary and Compliance Officer of SEPC. Until the appropriate authorities consider the challenge, the outcome of the company's request for a stay and quashing remains pending. Investors may track further exchange filings for verified developments, including any ruling or additional disclosure on the scope and impact of the order.