AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
India: Ministry encashes Hughes' guarantee for Karnataka (397).
Anita Mani
NEW DELHI, April 12
THE Ministry of Communications has encashed the Rs. 50-crore earnest money bank guarantee (EMBG) of Hughes Ispat Ltd (HIL), amounting to cancellation of the letter of intent (LI) for the Karnataka basic services circle.
Sources said that the company had not yet contested the encashment. This is being perceived by the Ministry as an indication of the company's lack of interest in pursuing the Karnataka project.
An EMBG, which is submitted along with the bid, is encashed if the bidder fails to sign the licence agreement, submit financial and performance bank guarantees, or if the company fails to comply with the …
-
- India: Pvt basic telecom operators worry over DoT tariff move (427).
-
News wire article from: Business Line
April 29, 1999
700+ words
-
- India: Cellular operators want change in effective date (468).
-
News wire article from: Business Line
May 21, 1999
700+ words
-
- India: Notices to Koshika, Aircel for cancellation of licence (518).
-
News wire article from: Business Line
April 6, 1999
700+ words
-
- India: Ministry to press for early hearing of telecom cases (362).
-
News wire article from: Business Line
May 22, 1999
700+ words
-
- India: Cellular dues mop-up seen at Rs 175 cr (349).
-
News wire article from: Business Line
August 12, 1999
700+ words
