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Sent:
To:
Subject:

MADRAS CHAMBER OF COMMERCE

28 June 2012 16:44
prabhu@pecpl.com
Re: Overdue Outstandings from NOCL

Dear Mr Prabhu
We have taken up the matter with Mr Ramasundaram who is the CEO of the company. Have requested him to look
into the matter and settle the dues at the earliest.
Have not heard from him so far. We shall pursue the matter with him.
Regards
K Saraswathi
MCCI

From: prabhu Director [mailto:prabhu@pecpl.com]

Sent: Thursday, June 28, 2012 4:04 PM
To: saraswathi.k@madraschamber.in
Cc: ADMIN - U1; madraschamber@madraschamber.in; pke Managing Director; kp DIRECTOR (TECH); ramana
Accounts MGR; prasad Accounts followup; Balasubramaniam K
Subject: Re: Overdue Outstandings from NOCL

Dear Ms Saraswathi, Secretary General MCCI

Good Day...
Would appreciate if you can let me know if any support can be received from MCCI as discussed during
my personal visit to your office
Regards,
Prabhu
On Fri, Jun 8, 2012 at 3:52 PM, prabhu Director <prabhu@pecpl.com> wrote:
Dear Ms K.Saraswathi, Secretary General, MCCI
Mobile: 96001 55571
Thank you for spending time in meeting with me at your office to discuss on the liquidity problem
Industries like us are facing and also in specific on the extreme delay in receipt of payments from M/s
NOCL
As discussed with you, the attached is the official letter we had received from NOCL regarding their
commitment to pay us by end of Feb 2012.
The below email sent from PPMAI (http://www.ppmai.org/) to NOCL regarding the same during Dec 2011
which gives better understanding of the issue faced by many suppliers to NOCL like us.
Now our payments are due from Nov 2011 to May 2012, almost 6 months and we are now being pushed to
bleeding situation of having countless efforts made to get the due payments
1

We request MCCI to support in any way possible to resolve the above issue which is now being faced by
many of the industries in the Oil & Gas having supplies made supplies to NOCL.
As I will be traveling abroad next week, our MD Mr.P.K.Easwarmurthy (98410 90117) will be happy to
get any feed back from your good office
Details of NOCL Purchase Orders
PO : SNP/125/2009-10/UIPL for Heater Charge / Reactor Effluent Heat Exchangers
PO : SNP/0340/2010-11/Technip for Heat Exchangers
Out Standing Amount Due : Rs. 2,87,56,979
Regards,
Prabhu
Director Business Development
Precision Equipments (Chennai) Pvt Ltd
130, Industrial Estate, Perungudi
Chennai, India 600096
Ph: 0091-44-24961916, 1460, 2855, 2866
Fax:0091-44-24960411, 4328
Mobile: 98400 99660
prabhu@pecpl.com
www.pecpl.com

---------- Forwarded message ---------From: ppmai <ppmai@vsnl.net>

Date: Fri, Dec 9, 2011 at 12:27 PM
Subject: FW: Complaints from Members on Overdue Outstandings from NOCL against their supplies.
To: corpcomm@nagarjunaoil.com
Cc: cefernandes@geiind.com, Anil.MODI@hed.ltindia.com, v.correa@ticb.com
Mr. S. Ramasundaram,
Managing Director & CEO
Nagarjuna Oil Corporation Limited
MD Chambers,
Old No.31, New No.53, Dr. Radhakrishnan Salai,
Mylapore, Chennai - 600 004,
Tamil Nadu, India

Dear Sir,

Please refer to our letter dated 25th November 2011, highlighting the payment issues of our various members who
rendered services to you most sincerely. I hope you have already had an opportunity to go through their pending
issues and would have had discussions with the relevant departments internally.

I shall be very grateful, if you will please let me have your views on the representation made by us for our Members.
If need be, we are quite willing to meet you for a personal discussion after hearing from you.

I look forward to your early response.

Warm regards,

V.P. Ramachandran
Secretary General
Process Plant and Machinery Association of India
002 Loha Bhavan
91-93 P.D'Mello Road
Masjid East
Mumbai 400 009
Tel. 022-23480965 / 23480405
Fax: 022-23480426
Cell. 09819207269

From: ppmai [mailto:ppmai@vsnl.net]

Sent: Friday, November 25, 2011 5:10 PM
To: 'corpcomm@nagarjunaoil.com'
Subject: Complaints from Members on Overdue Outstandings from NOCL against their supplies.

25th November 2011

To,
Mr. S. Ramasundaram,
Managing Director & CEO
Nagarjuna Oil Corporation Limited
3

MD Chambers,
Old No.31, New No.53, Dr. Radhakrishnan Salai,
Mylapore, Chennai - 600 004, Tamil Nadu, India

Dear Sir,

I take this opportunity to first introduce our Association and its activities and services to its Members.

Process Plant and Machinery Association of India (PPMAI) is a premier Association established in March, 1964,
rendering dedicated services to its members all over India. A brief on few of the activities is as follows:

Updation of latest Technical / Commercial matters through regular conduct of Workshops / Seminars on
innovative topics relevant to the Industry.

Close & regular interaction with relevant Departments of Central Ministries to highlight the critical issues faced
by our Members for early solution.

Participate meetings and interact in meetings organized by CII, FICCI, ASOCEM and other leading Industry
Associations to bring to the lime light the issues faced by our Members.

Promote and project Indian Engineering capabilities in various International Exhibitions through PPMAI Stalls.

I am, Ramachandran, currently conducting the Association activities would like to brief you on one of the major
issues of our Members who cater to your regular requirements. They have highlighted that a huge amount is
overdue from your Organisation. Some of them have also pointed out that although equipments have been
manufactured and kept ready against your Purchase Orders, the equipments have not been lifted, blocking their
capital and space. We attach herewith the Member Company-wise outstanding details for your ready reference.

You will appreciate, looking at the outstanding statistics given, it is a pretty bad situation for our members to move
forward, as they are going through a severe cash flow situation. With so much working capital blocked with one
company, all their critical activities like, Salary payments, Procurements, Manufacturing, etc. go haywire leading to
huge backlogs in execution of other project orders which are with huge penalty clauses.

We, as an Association, representing members wish to draw your urgent attention to the owes of the members
created by this payment delays, and earnestly request you to please understand the gravity of the situation and take
immediate steps to settle their dues which will certainly help them to serve better with regained confidence.

Point to be noted is that Government is expecting the Capital Goods Industry to grow at 25% upto 2020, and please
appreciate, if the members are meted out with such harsh treatment, one wonders how the Industry will grow and
achieve the Targets set by the Finance Ministry?!!

I await your positive reply confirming action on this issue urgently. Further, we would like to draw your attention that
we are under obligation to inform all isues faced by our members to Industry Organisations and Government
Departments for seeking suitable redressel.

With warm regards,

V.P. Ramachandran
Secretary General
Process Plant and Machinery Association of India
002 Loha Bhavan
91-93 P.D'Mello Road
Masjid East
Mumbai 400 009
Tel. 022-23480965 / 23480405
Fax: 022-23480426
Cell. 09819207269

--

-B.Prabhu
Director Business Development
5

Precision Equipments (Chennai) Pvt Ltd

130, Industrial Estate, Perungudi
Chennai, India 600096
Ph: 0091-44-24961916, 1460, 2855, 2866
Fax:0091-44-24960411, 4328
prabhu@pecpl.com
www.pecpl.com