Gayatri projects Limited receives Rs. 69.41 crores from contractor as settlement of claims
Posted On: 2020-12-31 01:27:22 (Time Zone: Arizona, USA)
Gayatri projects Limited ( the Company ) has received an amount of INR 69.41 Crores from its contractor M/s Sunway Construction SDN, BDH, as settlement of its various claims raised by the Company on the contractor. The Company had executed a contract for rehabilitation and Upgrading of Kms 104 to Kms 170 of NH 25 lo 4 lane in the State of Uttar pradesh (Contract package No - EW II UP-4) as a sub contract from M/s Sunway Construction SDN, BDH, M/s Sunway has raised a total claim of INR 80.00 Crores on NHAI and out of total amount received, the company s share was settled at INR 70.78 crores and the net amount received by the company after statutory deductions is INR 69.41 Crores.