14�THE ECONOMIC TIMES | MUMBAI | WEDNESDAY | 13 NOVEMBER 2013

SNEHA SHAHMUMBAI

Poor corporate governancestandards, suspicion offraud and a general environ-

ment of distrust are forcing sev-eral global private equity funds toorder investigations into theirportfolio companies. Officialsfrom more than half-a-dozen suchfunds told ET they have either ap-pointed or are in the process ofhiring corporate investigators toferret out crucial information ontheir portfolio companies.

Known as ‘post-investment duediligence’, these investigationsrevolve around the financial, le-gal and corporate aspects of acompany. “We are not sure that acouple of our portfolio compa-nies are actually growing at thestated pace. We are in the processof hiring a firm to help us ascer-tain that,” the managing partner

of a global fund said on conditionof anonymity.

At least three such acrimoniousconfrontations have spilled outinto public glare recently. Lastmonth, PE funds General Atlan-tic and India Equity Partners,which had together invested $114million in Fourcee Infrastruc-ture, a logistics firm, dragged thepromoters to the Company LawBoard on account of fraud after asix-month investigation.

India Equity Partners and Bar-ings India had carried out a spe-cial audit at South-India basedgold loan lender Manappuram Fi-nance with the help of global con-sulting firm KPMG. Institutionalinvestors in MCX and NSEL havealso ordered such a probe.

For every reported case, at leasthalf-a-dozen or more remain outof the radar as both company andinvestor are keen to avoid badpublicity. “We realised that thecompany’s clients suddenly stop-ped paying and receivables keptmounting,” another fund manag-er said, referring to his recent in-vestigations into a portfolio com-pany. “The order book seemed tobe dwindling. We then sought

help from a corporate investiga-tor and realised that many of theclients projected by the companywere related parties and therewas no real income.” The fund isnow negotiating a quiet and ami-cable exit by selling the sharesback to the promoters.

Earlier, one of 10 investors wouldask to analyse a portfolio company.Now, four of 10 are asking for suchinvestigations, Reshmi Khurana,associate managing director, KrollIndia, said. Kroll is a global corpo-rate investigations and due dili-gence services provider. Adds Pra-tibha Jain, partner and head northIndia at law firm Nishith Desai As-sociates: “The number of PE-relat-ed cases going for arbitration isrising and now, we are getting sig-nificant requests for post-invest-ment due diligence.”

Firms such as Pricewaterhouse-Coopers India, KPMG, and De-loitte have also seen a steady in-crease in requests for such‘post-investment’ reviews."Wherever PE fund managershave sniffed something is amiss,they are ordering such probes,”Sanjeev Krishnan, executive di-rector and head of private equity

transaction advisory services atPwC, said. “However, people wantto find amicable solutions ratherthan upsetting the apple cart,"Krishnan added.

“We have seen that in most caseswhere there is need for post invest-ment due diligence, the PE fundhas restricted access to good quali-ty information on the perform-ance of the target company,” saidKroll India’s Khurana. “A largeproportion of PE investments inIndia are minority stakes where

post-deal access to good quality in-formation is a real issue.”

An increasing number of PEfunds have gone through the or-deal of seeing financials sharedduring initial pre-investmentschange dramatically post invest-ment. “When there is a pure fraudperpetrated by the promoters, itbecomes a fiduciary duty of thefund managers to take an action,”says Jain. But no all investiga-tions unearth a fraud or end up incourt. Many get resolved amica-

bly too. “We do not find fraud in allcases. In many cases, our investi-gation may identify operationalor accounting irregularities. ThePE fund then uses that informa-tion to work with the promoters tobring the business back ontrack,” says Khurana.

Of the 3500 investments PEfunds have made over the pastdecade, only about 500 have seenexits. Many investments stillwaiting for exits may have gov-ernance issue.

“When the economy was grow-ing fast a few years ago, many in-vestors hurried into their invest-ment decisions overlookinggovernance issues and other redflags,” says Sanjay Mehta, found-ing partner, BMR Advisors. “Itsadverse impact is being felt nowas businesses with poor govern-ance are first to go down wheneconomy slows.” BMR gets a lot ofrequests from funds to ascertaintrue financial health of their in-vestee companies, in particularidentify potential areas of mis-statements, impact of related par-ty transactions and leakages.

sneha.shah@timesgroup.com

Now, Global PEs Probe Own Portfolio CosInvestigations revolve

around financial, legal

& corporate aspects

SOMA DASNEW DELHI

Puducherry-based drug-maker GuruFcure has comeunder the Drug ControllerGeneral of India’s (DCGI)scanner for allegedly sub-mitting fabricated datawhile seeking approval formanufacturing seven fixeddose combination drugs.

“The investigative teamconcluded that all the datasubmitted (by the contractmanufacturer in case of theseven combination drugs) isfabricated and not authen-tic,” the central drug regula-tor told the drugmakerwhile rejecting its applica-tion last week in a letter,which was reviewed by ET.

GuruFcure did not respondto ET’s email query.

As per the company’s web-site, its clients include lead-ing pharma companies suchas Abbott, Alkem, Glenmark,Wockhardt, Unichem and In-tas Pharma, among others.The contract manufacturer,which started operations in2007, calls itself “one of theleading pharmaceutical for-mulation manufacturers inIndia”. While ET did not in-dependently verify GuruF-cure’s claims, a representa-tive of Wockhardt and aGlenmark spokespersonsaid the two companies were“not currently associatedwith this firm”.

GuruFcure had earlier thisyear sought the regulator’sapproval to make varying

combinations of antibioticsCefixime and Ofloxacin, Ce-fixime and Azithromycin,Cepfodoxime and Azithro-mycin, among other combi-nation drugs. “It was observ-ed that the documents maynot be authentic,” the drugregulator said in its noticesent to the company.

After an investigation con-cluded that the data submit-ted by the company wasfudged, the regulator on

May 14 askedthe companyto explain itsposition. Thecompany sub-mitted its re-ply on May 27.

“After exam-ining the re-ply, it is ob-served thatyou have notsubmittedany satisfac-tory reply andfor most of

the points, you have givenclarification as ‘typograph-ical error’, which is not ac-ceptable,” the regulator’sletter said.

The Drug Controller Gener-al of India has been proddingdrugmakers since Januaryto submit safety and efficacydata for combination drugswith the central drug regula-tor. If manufacturers fail todo so, the sale of these drugswill be forbidden in the coun-try, it has warned.

soma.das@timesgroup.com

Drug Co GuruFcureUnder DCGI ScannerOver ‘Fabricated’ Data

GuruFcurehad earlierthis yearsought theregulator’sapproval tomake varyingcombinationsof antibiotics

� Future Lifestyle FashionSells Stakes in Biba, ANDNEW DELHI Future Lifestyle Fashion, part of

Kishore Biyani-led Future Group, on Tuesday

said it has divested minority stakes in ethnic

wear firm Biba Apparels and designer Anita

Dongre-owned AND for .̀ 450 crore. “We are

exiting mature investments. Both the in-

vestments were made more than five years

ago. We exit investments when they become

large. Total receipts from divestment of Biba

and AND was .̀ 450 crore,” Future Group foun-

der Kishore Biyani said.

� Keen to Retain SingurLand: Tata Motors tells SCNEW DELHI Tata Motors on Tuesday told the

Supreme Court that it wanted to keep the

leasehold rights over the 997 acre land, allot-

ted by the Left Front government at Singur in

West Bengal as it is keen on returning to the

state with next phase of expansion of the Nano

car project. “I have instructions from the high-

est level to submit that we are keen to return

there (West Bengal),” senior advocate Harish

Salve told a bench.

� Smooth Take-off for AIFlights Amidst StrikeMUMBAI Air India's flights operated smoothly

on Monday despite an ongoing strike by cabin

crew of its wide-bodied aircraft near the Mum-

bai airport. The union affiliated to a local politi-

cal party was protesting a host of issues rang-

ing from changes in rostering to salaries.

� CARE Joins Four Others toLaunch Global Rating AgencyLONDON Credit ratings organisations from five

countries are launching a new global agency,

touting it as an alternative to the Big Three

agencies which they say no longer meet the

needs of the new globalised world. In a state-

ment, ARC Ratings said the agency would launch

in London as a joint venture between CPR of

Portugal, CARE Rating of India, GCR of South

Africa, MARC of Malaysia, and Brazil's SR Rating.

In a Nutshell

RAJEEV JAYASWAL &

MITUL THAKKARNEW DELHI

Narendra Modi’s letter to thePrime Minister complaining un-fair treatment meted out to thestate in allocation of natural gas isbeing tossed around in the Centralgovernment with the oil ministrysaying that the issue is outside itsturf. Modi had made natural gas al-location a political issue in thestate’s assembly elections sayingthat the state, which is India’s big-gest gas consumer, was being de-

nied itsshare by theCentre. The

UPA government countered this byadvertising statistics of naturalgas allocation, where the state wasshown getting the lion’s share.

Last May, the prime minister’s of-fice had forwarded Modi’s letter tothe petroleum ministry. Subse-quently, it sent a reminder and di-rected the oil ministry in August torespond to the BJP leader’s letter.

Gujarat, India’s biggest gas con-sumer, is complaining that theacute shortage of gas has left hugepower capacities idle, leading to amassive burden on the state as thepower purchase agreement (PPA)requires it to pay certain fixedcosts to the power producer, irre-spective of the quantum of elec-

tricity generated.“Natural gas-fired projects are

running out of gas and unable togenerate any power. As per thepower purchase agreements withthe producers, we are shelling outclose to .̀ 1,300 crore to Essar, CLPIndia, NTPC and other public sec-tor companies in terms of fixedcosts even without getting a singleunit of electricity. Gujarat govern-ment has been writing to the Cen-tre very often to allocate more natu-ral gas to avoid burden onelectricity consumers, but we donot have much hope in view of in-adequate domestic production,”said a government of Gujarat offi-cial requesting anonymity.

The oil ministrysays that the mattermust be resolved bythe power ministry.“The chief ministerof Gujarat has raisedissues relating to thepurchase of power,produced from RLNG

(re-gasified liquefied natural gas)based power stations by NTPC Vi-dyut Vyapar Nigam, which per-tains to ministry of power,” the oilministry recently wrote to the pow-er ministry.

The Gujarat government wantsNTPC Vidyut Vyapar Nigam to pur-chase electricity generated from R-LNG- fired plants and blend it withpower procured from other re-sources to market it to the powerdeficit states. The company, con-trolled by the central government,is already blending expensive solarpower with cheaper electricity pro-duced from conventional resourcesto promote unconventional energy,government officials said.

Modi blamed the Centre afterGujarat’s power generation utili-ties Essar, Torrent Power and CLPIndia were compelled to shut downtheir almost 5,000 MW generationcapacity this year because ofdwindling natural gas suppliesfrom Reliance Industries-operat-ed KG-D6 block.

OilMin Sidesteps Modi’s Gas-allocationComplaint, Passes it to Power Ministry

OUR BUREAUMUMBAI

Mumbai civic authorities onTuesday pushed through ahuman barricade to beginpreliminary procedures toempty out the 35 illegallybuilt residential floors ofCampa Cola Compound inup-market Worli. The Su-preme Court-ordered dead-line for eviction was 11am.

The housing complex, com-prising seven high-riseapartment towers built inthe 1980s, has flouted con-struction norms. Civic au-thorities plan to demolishthe 102 apartments builtabove the permitted fivefloors as per the top court’sFebruary 27 order.

A little past the evictiondeadline, senior officials ofMunicipal Corporation ofGreater Mumbai (MCGM),about 400 police personnel,officials from Brihanmum-bai Electric Supply andTransport (BEST), Mahana-gar Gas and the fire depart-ment moved in to survey thebuildings and search the ille-gally-built floors for resi-dents. Slogan-shouting resi-dents in ‘Save Campa Cola’black tees tried to stop theirentry, even as two bulldozerswere stationed outside thehousing complex.

“There won’t be any demo-lition today; we will discon-nect water, electricity andgas supply to the illegal

apartments,” MCGM deputycommissioner KishoreKshirsagar told the protes-ters. “We are searching forvacant apartments, whichhave been voluntarily vacat-ed by the residents as theyhad given a declaration tothe Supreme Court.”

A day earlier, BEST offi-cials had issued notices tothe residents that electricitysupply to the illegally- builtapartments would be discon-tinued as per the court order.

The protesting residentshad locked the gates of thehousing complex and parkedcars inside the compound toblock the entry of officials.

Eviction had been pendingsince April, as the affectedresidents had managed toget extensions from thecourts to look for alternateaccommodation.

The protest has found back-ing from almost all politicalparties. According to the resi-dents, an all-party delegation,along with some affected resi-dents, had met chief ministerPrithviraj Chavan on Mon-day for a resolution. However,till Tuesday evening, theyhad not received any re-sponse from the CM’s office.

Civic Officials TakeCharge; Cut Power,Water Connections

Fire dept officials

search illegal floors

for residents, face

resistance

Officials at work on Tuesday

CAMPA COLA EVICTION

Quarter ended Half year ended Year ended

Particulars 30.09.2013 30.06.2013 30.09.2013 30.09.2012 31.03.2013

___________________________________________ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)

1. (a) Net Sales/Income from Operations 38587.73 32093.52 70681.25 67426.23 132524.48

(b) Other Operating Income Nil Nil Nil Nil Nil

2. Expenditure __________________ ______________ ____________ ____________ __________

(a) Increase/decrease in stock in trade and work in progress Nil Nil Nil Nil Nil

(b) Consumption of raw materials 14266.39 12664.25 26930.64 23088.01 46737.87

(c) Purchase of traded goods Nil Nil Nil Nil Nil

(d) Employees cost 3906.05 3920.57 7826.62 7861.67 18528.96

(e) Depreciation 3315. 18 3292.06 6607.24 7593.53 15188.87

(f) Generation &Administration Expenses 6726.19 4489.14 11215.33 10869.81 23709.61

(g)Otherexpenditure 111.34 150.25 261.59 196.25 4837.00

(h) Total 28325.15 24516.27 52841.42 49609.27 109002.31

(Any item exceeding 10% of the total expenditure to beshown separately)

__________________ ______________ ____________ ____________ __________

3. Profit Profit from Operations before Other Income, Interest and 10262.58 7577.25 17839.83 17816.96 23522.17

Exceptional Items (1—2) __________________ ______________ ____________ ____________ __________

4. Other Income 662.64 857.08 1519.72 1872.21 6715.86

5. Profit Profit before Interest & Exceptional Items (3+4) 10925.22 8434.33 19359.55 19689.17 30238.0330238.03

6. Interest 25.03 35.55 60.58 364.2 694.41

7. Exceptional items Nil Nil Nil Nil Nil

Loss (-) from Ordinary Activities befo re tax 10900.19 8398.78 19298.97 19324.97 29543.62

9. Tax expense ________________ _____________ ___________ ___________ __________

I. Current Tax 3224.10 2675.56 5899.66 6922.44 10886.61

II. Less : Mat Credit 1071.87 1025.63 2097.50 3380.74 5573.10

III. Net Current Tax 2152.23 1649.93 3802.16 3541.70 5313.51

iv. Deferred Tax 1199.77 0.00 1199.77 (1374.14) 0

10. Net Profit Profit (+)/ Loss (-) from Ordinary Activities after tax 7548.19 6748.85 14297.04 17157.41 24230.11

11. Extraordinary Items (net of tax expense ) 0 0 0 0 0

12. Net Profit(+)/ Loss (-) for the period (9-10) 7548.19 6748.85 14297.04 17157.41 24230.11

13. Paid-up equity share capital (Face Value of the Share 332274.04 329223.04 331464.04

14. Paid up Debt Capital _______________ ____________

224828.15 163107.17 191815.46

15. Reserves excluding Revaluation Reserves as per balance 187974.84 162994.92 167505.61

sheet of previous accounting year __________________ ______________ ____________ ____________ __________

16. Debenture Redemption Reserve _______________ ____________

821.42 3150.00 821.42

17. Earnings Per Share (EPS) 0.23 0.20 0.43 0.52 0.73

18. Debt Equity Ratio _______________ ____________

0.68 0.50 0.58

19. Debt Service Coverage Ratio _______________ ____________

1.90 2.23 1.34

20. Interest Service Coverage Ratio _______________ ____________

2.03 2.79 1.96

An iSO 9001 , 14001 & OHSAS 18001 Corporation

Registered Office: Brookland Compound, Lower New Colony, Shillong - 793003 , Meghalaya

Half Year Unaudited Financial Results for the period ended 30th September , 2013

in Iakhs

Formula Used :

ISCR = Earnings before Interest and Tax I Interest Expense.

DSCR = Earnings before Interest and Taxi (Interest + Principal Repayment>.

Debt Equity Ratio = Long term debt I Equity Share capital

1. Electricity generation is the principal activity of the Corporation. Other operation like interest income does not form a reportable segment as perthe Accounting Standard 17. Interest income earned by the Corporation in respect of Bonds issued to the Corpora�on by various State Electricity

Board! Power Department in liquidation of the debts owed by them against energy supplied is attributable to the generation activity Only.

2. The Corporation has power stations located within the country and therefore geographical segments are inapplicable

3. Sales have been recognized as per final tariff notified by the Centra l Electricity Regulatory Commission (CERC).

4. The Board of Directors in their meeting held on 01.04.2013 has approved the creation of Gratuity Fund Trust vide its Resolution No.195/16dt.01 .04.2013 in order to meet the requirement of funds for payment of Gratuity to the employees separated from the services of the Corporation.Accordingly Employees Group GratuityAssurance Trust has been constituted on 25’ June, 2013 and an amount of 50.00 crores was transferredto the trust.

5. The same Accounting Policies are followed in the preparation of half yearly Financial Statement as those followed in the last annual FinancialStatements and there are no changes in the accounting policy during the quarter under review.

6. The above unaudited results have been reviewed & recommended by the Audit Committee and approved by the Board of Directors at theirmeeting held on 1 2th November , 2013. The Statutory Auditors of the Company has carried out Limited Review of the above results.

7. The previous period’s figures have been regrouped, re-cast and re-arranged wherever necessary.

8. Major part of the revenue is from the hydro power generation which is not uniform throughout the year.For NEEPCO Ltd.

Date : 12th November, 2013 Sd’- (A. G. West Kharkongor)

Place : Shillong Director (Finance)

)pen Tender Notice No.: 0512013(O&F, Date: O6.11.1�

Sealed open tenders are invited by DME (O&F)/N.E.Railway, Luckknow forand on behalf of the president of India for the works mentioned below:-

Description of works Period Approx. Earnest Cost ofValue Money ttenderform

Sl .No . 1, House Keeping works of 02

(In Ri.) (m Rs.) (iii Rs.)Runn ing Room Gorakhpur for the Years

60,02 052/- 1,20 050/- 5000/-penod of two years.

• Tendercanbepurchasedfrom 14.11.13to12.12.13 .Recei ppt t of t e n d e r

from04. 12. 13 to 12.12.13 duringofficehoursand 13.12 .13 on 14 :OOhrs . .Time&Dateofopening : 13.12.13(15:OOHrs.) • Detailed Tender notice, terms &conditions are available at North East Railway Website: htto :I/www.ner.�ndianra ilways.gov.in and Government website http:I/www.tender s.gov.in • Cas}�receipt issuedby Divisional CashierOffice , N .E .Railway, Lucknow Jn . should bedeposited in MechanicallO&F Office , against purchase of tenderdocument .‘ PR O/Me�h.-53 D.M.E. (0 &F), Lacknow

NORTH EASTERN RAILWAY C

Railway vi g ilance Mobil e Helplin e No. :0551-155210(For complaints regarding cor ru ptions )

���������������������������

rs�y v 1 UI

Events!Partlcular s RemarksEarnest Money Deposit (EMD) 5.00 LakhsCostoflenderDocument (Non Refundable) 5,000.00SaleoflenderDocurnent 14.11.2013to02.12.2013Lastdate to send in requestsforclarifications 25.11.2013 till 5.00 P.M.on the tenderdocument

__________________________

DateandlimeforPre- Bid Conferenceatthe 29.11.2013 atO3:00 P.M.Conference Hall of Secretariat

________________________

Lastdateforsubmission of bids 16.12.2013 till 2:00 P.M.Opening of pre-qualification Bids 16.12.2013at3.30 P.M.

Note: Only those prospective bidders who have submitted the cost of bid documentbefore the Pre Bid Conference shall be permitted to take part in the deliberations duringpre bid conference. Member Secretary

SOVTECH (Dli, ANA, Govt of India),Port Bl air, Andaman & Nicobar Islands

“OperatIon and MaIntenance of Development CommunIcatIon Network (DCN)

for a period of three Years”The Sodety for promoNon of Vocational and Technical Education (SOVTECH) Andarnan& Nicobar Islands, Port Blair, a registered Society and the State designated Nodal Agencyfor implementaton of the various project underthe National e-Governance Plan (NeGP) inA&N islands invites bids for “Operation and Maintenance of DevelopmentCommunication Network (DCN) fora period of three Years”The REP document can be downloaded from the A&N administration websitew��.and.nlc.ln or can be purchased from the office of Sovtech on any working daybetweenl4.11 .2013 to 02.12.2013 on paymentof Rs. 5,000.00 (non-refudable) as cost oftender document. The bidders who download the document should submit a DemandDraft/bankars Chequeof any nationalized/scheduled Bank located in India foran amountof 5,000,00 toward the cost of Tender document drawn if favor of Executive Officer,Sovtech beforethe Pre bid Conference.K�v Event & Dates

SL I’lo. Materials Quantity Publish Date

1 Diethyl Phthalate (Dep) 54 MIs 05.11.2013

2 Palm FattyAcid Distillate 1,000 MTs 05.11.2013

3 Palm Kernel FattyAcid Distillate 600 MTs 08.11.2013

4 Tooth Paste 50gm with Brush free 7,00,000 Nos. 09.11.2013

5 Oil of Vetivr 1,000 Kgs 09.11.2013

6 Machine Made Raw 200 MTs 09.11.2013Agarbathi Sticks 8 Inch

___________ __________

7 CausticSoda L.ye 400MTs 11.11.2013

8 SBT (Trio) E-Fluted Cartons 10,00,000 Nos. 11.11.2013

Please visit our website: http:llkarnataka.gov.inlmysoresandal forfurther details. For any queries/clarification, contact the undersigned.

Sd!- Dy. Gen. Manager (Materials)

ç”° Karnataka Soaps & AnISO.9001:2008 &

Detergents Limited 14001:2004 Compafly

�� (A Government of Karnataka Undertaking)Forniedy Government Soap Factory and Sandalwood Oil Factories

Sandal City, PB. No. 5531, Bangalore.Pune Highway, Bangalore.560 055.Ph :23378715, 23371103, Fax :23375102, 23370498

E.niail : gmmtrls©mysoresandal.co.inDate : 11. 11 .2013

NOTICE INVITING T E N D E R

Tenders are invited from M/s . KS&DL in two cover system throughe-procurement portal (website https:I!eproc.karnataka.gov.in) withrespect to supply of the following raw materials.

NOTICE INVITING APPLICATION FOR

REGISTRATION OF CONTRACTORS

Tender Notice No.: NCL/CMCICTISORI2O13/112 Date: 07.11.2013Job Description: “Registration for Loading & Trans portation of coal

by contractor ’s tipping trucks from Coal Stockyard of NCL viaweig hbr idg e of Project inc lud ing loading of coal into contractor ’s

t i p p i n g t r ucks / wagons / M G R by cont rac tor ’s pay l oade r s . ”

Registration fee: Rs. 10 ,000/- The schedule of submiss ion of

Registration Form will be as under:- Submission of Registration From

wil l be at three places (1) Office of the CGM (Prodn .) , N C L Singrau l i ,

Dist. Singrau l i (MP), (2) Office of CM (E & M) NCL Desk Office , 15 ,

Gar ih at Road , Kolkata and (3) Office of GM , Coal India Ltd. 5th Floor ,

Core I & II . Scope Minar , Laxm i Nagar , D istrict Centre , Laxm i Nagar ,

New Delhi . The sale period of appl icat ion form will be from 15.11.2013

to 14 . 122013 from 10:00 AM to 1:00 PM on all working days and the

receipt period of appl ica t ion form will be from 18.11.2013 to

17.12.2013 from 10:00 AM to 1:00 PM on all working days.

Registration Form is avai lable in the office of GM (CMC) & on NCLs &

Govt. website: http://www.ncl.gov.in. R32A

Thereere’s a little bit of SAIL In everybodyy’s life

4 STEEL AUTHORITY OF INDIA LIMITEDRourke la Steel PlantRourkela - 769 011, Odisha, India

Global Tender Notice for MOU ID AND SEGMENT � LLERS OF CASTER-Ill OFSMS-lI’

Tender No.619/1314I00021/Oi/00 Dtd. 31.10.2013

(1hrough EPS and on 01.11.2013 through SAIL T�ider)

Last Date & Time of Tender Submission: 04:00 PM on Dtd.03.12.2013

For further details please log on to our website hftps�/www.saiI.co.in (Un�-‘Rourkela Steel Plant”)

Reaistered Office: Isoat Bhawan. Lodi Road. New Delhi 110 003