APR Constructions Limited - Saffron Capital

was raised against Respondent on account of reasons
stated hereunder:
Non handling over of entire site
Change of quarry for CNS and non payment
of extra lead
Delay in issue of construction drawings
Non payment of excess quantities
2. APR Constructions Ltd
(Petitioner) & Narmada
Valley Development
Authority, Bhopal
(Respondent) (Arbitration
58/2008)
The Petitioner filed Arbitration Case against the
Respondent before the Madhya Pradesh Arbitration
Tribunal at Bhopal claiming an amount of
`1,07,11,475/- alongwith interest @ 18% p.a. from
March 25, 2007 till realisation towards the claims
and disputes that arose in the execution of the work
of excavation, earth work, cement concrete lining
and construction of structures under Rani Avanti Bai
Sagar Project Left Bank Canal from 119.500 Kms to
126.190 Kms.
The Petitioner has completed the work in all respect
and final bill is under preparation.
The major dispute arose in the matter on the
objection of office of Accountant General (AG) of
Madhya Pradesh on alleged excess payment of
escalation. The AG office took view that in place of
opening of tender document, date of opening of price
bid should have been taken as a base date for
calculation of escalation. NVDA‟s executive
engineer blindly accepted the objection, recalculated
bill and intimated excess payment from subsequent
running bills. The Petitioner has not accepted this
recovery and filed the said arbitration petition.
Amt.:
`1,07,11,475/-
(Rupees One crore
seven lakhs eleven
thousand four hundred
and seventy five
only).
Status:
The matter is pending
before the Arbitration
Tribunal and the
arbitration
proceedings have not
yet begun.
PART 3: LITIGATION AGAINST OR BY OUR DIRECTORS
Litigation against the Directors of our Company
There is no outstanding litigation against the Directors of our Company.
There are no pending litigations against the directors involving violation of statutory regulations or alleging criminal
offence.
There are no pending proceedings initiated for economic offences against our directors.
There are no past cases in which penalties were imposed by the concerned authorities on our Company‟s directors.
There are no pending litigations, defaults, non payment of statutory dues, proceedings initiated for economic offences/
civil offences (including the past cases), any disciplinary action taken by the SEBI / stock exchanges against our
Company‟s directors.
Litigations by our Company‟s Directors: NIL
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