onsetof Monsoon

in JuneLstweek,Logistics
to tail endis liketyto uefepn$r4diryil$heet.
materials
in generalandsandin particular
areto be procured,
transported
andstocked
up at tair
endduringMayitself.

In viewof the above,you are kindlyrequested

to

supportus by financing
the required
fundsto

overcome
the aboveconstraints.
lt maynot be out of placeto

mentionthat we areworkingwith
the unit ratesfinalizedin 2011'Furtherquantities
for all the itemshaveexceeded
the envisaged
quantities
by morethan50%dueto deviations
fromNlT.
It may not be out of placeto mentionthat Elecon
hasalreadyreceived
aboutRs.70croresin
threetrancesas advance
from NMDC.Eventhoughwe areeligibleto receive
aboutRs.20crores
advanceon proratabasisas per our terms of agreement
with Elecon,we haveneitherbeen
offerednorgivenanyadvance
at anystageof thisprojectexecution.
we wouldalsoliketo submit
that we havefundedthis projectsubstantially
for abouttwo and halfyearsduringwhichperiod
our outstanding
receivables
areconstantly
aboveRs.4 to 5 croresat the endof eachmonth.
Advanceto procuresteeland cementwasgivenby
Elconto a tune of 201,lakhs(
76 laksh+L25
lakhs)overa periodof 1 year.Youare requested
not to recoverin one strokein this month,the
samemaybe recovere
d at 17%in futurerunningbillsto be raisedby usto ease
the fundsflow for
work.

In viewof the above,you are kindlyrequested

to releasero% outof 15 %amountretainedfrom
our runningbillswithoutwhichwe are likelyto miserably
fail in delivering
the commitments
madeby usandby Elecon
to NMDC.
We hopethatyoushallfindthe abovein order.
Thanking
you,
Yoursfaithfully,
ForSURYODAYA
TNFRA
PROJECTS
(t)

BRry"^J
(B.Rojendra prosada Rao)
Managing Director

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