gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITED(APSH) is deducting the normal seigniorage charges from bills. The IJM-Gayatri Joint Venture challenged the aforementionednotice by preferring appeal under Rule – 35 or 35-A read with Rule 35-C of Andhra Pradesh Minor Mineral ConcessionRules – 1966 before the Director (Minister of Mines and Geology) of Mines and Minerals. The Government granted stay ofthe Director of Mines and Geology, Warangal Demand Notice No. 2844/V&E/97, dated 11.02.2004 vide its order dated21.03.2006. Now the matter is pending for adjudication.Arbitration -M/S Simplex -Gayatri JVThe Contract Package-II, NH-4 (Four laning of Sathara - Kolhapur Road works of NH-4, Package - II from Ch. 616km to639km) - Claim for borrow of Earth materials from leads beyond reasonable leadfor the items of BOQ (Bill of Quantities) 2.6& 2.7.The rates in tender for the items of BOQ 2.6 and 2.7 as mentioned under clause 8.0 of supplementary information in Vol-I ofbid document. The reasonable lead for murrum required for embankment work was assumed for 4- 5 Kms but during executionthe fill material was not available for 4 – 5 Kms and accordingly had to borrowed from more lead of about 19 Kms. Theamount involved in this claim for Rs.411.74 Lakhs. The award was given in favour of Gayatri projects Limited in the saidarbitration and submitted to (Maharashtra State Road Development Corporation) MSRDC, Mumbai for further orders and isawaited for decision.162