gayatri projects limited - Edelweiss

and Other Claims. The total amount under consideration is Rs. 2717.48 Lakhs. The Statement of Claim is submittedto Arbitral Tribunal on 03-12-2005. The matter is pending for adjudication.2. M/s.IJM-Gayatri JV is executed the Contract Package-II,NH-5 (Widening to four lanes and Strengthening of existingtwo lane road from km 380/00 to 395/000 (KM 0/00 to 15/2 of Guntur Bypass) of Chilakaluripet - VijayawadaSection of NH-5). The work commenced in March’1999 and the work completed by the extended date ofDecember’2002. During Execution contractor faced many hindrances and consequently the Original Contract periodwas extended. The Contractor is entitled for compensation due to prolongation of the Contract Period. The natureof Claims are, Claim for Compensaion of Loss of Profit and infructuous overheads due to prolongation of Contract,Claim for costs of Idle Plant and Equipment , Claim for Loss sustained due to Locking of securties during theextended period of contract, Claim for Payment of import duty to be paid to Central excise Department , Claim forprice Escalation towards HSD not covered by POL and Other Claims. The total amount under consideration is Rs.2633.09 Laks. The Statement of Claim is submitted to Arbitral Tribunal on 12-01-2006. The matter is pending foradjudication.3. M/s.IJM-Gayatri JV is executed the Contract Package-III, NH-5 (Widening to four lanes and Strengthening of existingtwo lane road from km 380/00 to 395/000 (KM 0/00 to 15/2 of Guntur Bypass) of Chilakaluripet - VijayawadaSection of NH-5). The work commenced in March’1999 and the work completed by the extended date ofDecember’2002. During Execution contractor faced many hindrances and consequently the Original Contract periodwas extended. The Contractor is entitled for compensation due to prolongation of the Contract Period. The natureof Claims are, Claim for Compensaion of Loss of Profit and infructuous overheads due to prolongation of Contract,Claim for costs of Idle Plant and Equipment , Claim for Loss sustained due to Locking of securties during theextended period of contract, Claim for Payment of import duty to be paid to Central excise Department , Claim forprice Escalation towards HSD not covered by POL and Other Claims. The total amount under consideration is Rs.2711.80 Laks. The Statement of Claim is submitted to Arbitral Tribunal on 14-02-2006. The matter is pending foradjudication.4. The Contract Package-APSH-7 (Widening and Strengthening of Tallada - Devarapalli Road) is executed by M/s.IJM-Gayatri (JV). The Work was Commenced on Mar’1999. During the Execution of the contract certain claimshave arisen. The nature of claims are, Claim for Payment of interest on the reduced amounts paid by the Employerwithout releasing full amounts as certified by the Engineer in the iterim payment certifcates, Claim for Price adjustmentamount payable due to wrong calculation of the amount by deducting the seigniorage charges, Claim for refund ofextra seigniorage charges recovered from IPCS on account of wrong arriving at the volume of materials consideringswell / bulkage factor and Claim for Payment of interest on the advance loan amount recovered at excess percentagerate than prescribed under the contract. The total amount involved is Rs. 227.17 Lakhs. The Hon’ble Tribunalissued notice under clause 67.1 to both the parties. The Arbitration Tribunal commenced the hearings and thematter is pending for adjudication.5. The Contract Package-APSH-8 (Widening and Strengthening of Warangal - Khammam - Tallada Road) was executedby M/s.IJM-Gayatri JV. The work was Commenced on Mar’2000.During the Execution of the contract certain claimshave arisen. The nature of claims are, Claim for Payment of interest on the reduced amounts paid by the Employerwithout releasing full amounts as certified by the Engineer in the iterim payment certifcates, Claim for Price adjustmentamount payable due to wrong calculation of the amount by deducting the seigniorage charges, Claim for refund ofextra seigniorage charges recovered from IPCS on account of wrong arriving at the volume of materials consideringswell / bulkage factor and Claim for Payment of interest on the advance loan amount recovered at excess percentagerate than prescribed under the contract. (Claim No-1 to 5). The total amount involved is Rs. 175.38 Lakhs. Noticeunder 67.1 issued both parties. The Arbitration Tribunal commenced the hearings and the matter is pending foradjudication.Case before Director Mines & Geology- M/S IJM-Gayatri JVIJM-Gayatri Joint Venture Vs. Asst. Director before Director, Mines and Geology, Government of Andhra Pradesh.The Asst. Director of Mines and Geology, Warangal issued a demand No. 2844/V&E/97 dated 11.02.2004 demandingpayment of Rs. 257.60 Lakhs towards five times penalty on normal seigniorage fee. The aforesaid notice was on the groundthat the Joint Venture illegally and without paying the seigniorage charges used the minerals for execution of Road work ofAPSH-8. The said allegation was totally wrong and contrary to record. The said fact is evident from the fact that the Employer161