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abhijit majumder (practicing company secretary)     23 April 2025

Queries on payment for turnkey project

To the

Eminent  senior experts

Sir,

The company (a 100%Govt Co) engaged in constructions of various projects through Contractor(s)  aided by Govt Funds.

While  release payments(in instalments) to the Contractor(s), in the Bill it is mentioned % of work done.

But in case of any subsquent disputs this  payment(s)  release based on % of work done goes against the Company.

My query before you is can we write down  under-mentioned sentence on the bill while release payments. Particularly can Clause (b) will be  acted in favoure of our company?

(a)Prima facie ...................................% of work of the project being done.

(b) However as the project being a ‘Turn Key Project’ henceforth unless & until the referred project being fully completed and performed according to the full satisfaction of the management of WBLDCL, the above referred statement in clause (a) will not be considered as conclusive and/or suggestive statement for any purpose.

 Regards

Abhijit

 



 1 Replies

T. Kalaiselvan, Advocate (Advocate)     23 April 2025

You can consult a CS and take further decision on the advise of the company secretary or a chartered accountant in this regard


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