Further, the fact that lube activity, previous to closure of LPG plant and after surrendering of land, was carried out at POL terminal indicated that the activity may have been carried out at POL terminal within the intervening interval also. The matter was referred to Ministry in July 2002; their reply was awaited (September 2002). The matter was referred to Ministry in May 2002; their reply was awaited (September 2002). The rivalry of Management is not tenable in view of the fact that feasibility report primarily based available on the market examine (January 1995) did not indicate turnkey forex broker that the costly quality of fibre would also have a good command over the market.

Bharat Petroleum Company Limited

Further, due to excessive stock carrying price tanks under reference could not be used for storing Naphtha. Construction of two floating roof tanks before OCC�s decision to confer the Primary Pricing Point status to Cauvery Basin Refinery resulted in infructuous expenditure of Rs. 1.16 crore. The Company also, incurred an operating expenditure of Rs.eighty.thirteen lakh for maintenance and repairs, security, salaries, electrical energy etc. on the mentioned pipeline in the course of the above period. Engineers India Limited (Company) had been awarded (April 1992) the work of consultancy by Indian Oil Corporation Limited (IOCL) for organising of 5 Tap Off factors alongside Kandla-Bhatinda Pipeline for a complete worth of Rs.10 crore. As in opposition to the stipulated date of completion, being June 1994 for 3 points and April 1995 for two points, the Company completed the work between January to June 1996. The Company attributed the delay to delayed approval of drawings, adjustments in hydro testing process etc.

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• The choice, therefore, to buy the system was completely flawed and never based on any sound foundation which eventually led to a loss of Rs.1.21 crore on this deal.
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• Therefore, it was not prudent at that stage to discontinue the project as the Company had spent substantial quantity on PSU.
• The Company attributed the delay to delayed approval of drawings, changes in hydro testing procedure etc.
• In view of the above, the change in gasoline which occurred 2 to 3 years after fuel provide linkages, had no reference to injudicious choice of the Company to make huge investment.

The FSA could probably be terminated if financial closure didn’t happen inside three months of the settlement. The Company constructed a terminal at a price of Rs.31.07 crore to produce fuel to Independent Power Producers (IPPs) before they’d achieved monetary closure. No IPP got here into existence and the Company had no viable utilisation plan. The decision was in opposition to the Minisry�s directive and led to the services remaining idle. While the project was under implementation (August 1998) various clients like IPCL and Liberty Footwear approached the Company for the provision of propylene. Therefore, it was not prudent at that stage to discontinue the project because the Company had spent substantial quantity on PSU.

42    Infructuous Expenditure As A Result Of Delay In Surrendering Of Surplus Land

Wave Technologies Limited, USA (WAVE) who claimed the success of the expertise in 13 wells. ONGC awarded the contract to WAVE at US$ 0.23 million for its Navagam oil area for which letter of intent was positioned in December 1997 and the contract was signed in May 1998. The provider was, thus, fully absolved of the legal responsibility of proving the profitable operation of the know-how. The oil recovery from the 10 observatory wells really dropped all the means down to MT in the course of the first year of operation of know-how i.e. from January 1999 to December 1999 as compared to the manufacturing of MTs in the course of the corresponding earlier 12 months.

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The group additional reported that the operation of the technology was not demonstrated to their satisfaction. Despite this uncertainty, the staff beneficial (March 1996) application of this know-how in two oil fields of ONGC viz. At Navagam in WRBC (Western Regional Business Centre), and Lakwa in ERBC (Eastern Regional Business Centre). The feasibility report (FR) for ONGC was ready by the contractor M/s.

Ministry of Petroleum and Natural Gas (MOP&NG) determined (July 1997) to allocate fuel to Independent Power Producers (IPPs), on the recommendations of Ministry of Power, through the Company. The MOP&NG wrote (July 1997 and August 1998) to the Director (Marketing) of the Company confirming Naphtha fuel linkages to three IPPs. The linkage was topic to achievement of monetary closure of the project and finalisation of fuel supply settlement for agency fuel linkage inside six months from the date of concern of the order of allotment failing which the linkage was to be cancelled. The Fuel Supply Agreement (FSA), approved by MOP&NG, stipulated that the Company would commence provide of fuels to the IPPs not sooner than 15 months nor later than 24 months in respect of IPPs asserting monetary closure.

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None of the IPPs achieved financial closure, which was a precondition prescribed by the MOP&NG whereas allocating fuel linkages and likewise in the FSA. However, the Company proposed (February 1999) to construct a terminal at Kakinada with forty two,750 KL storage capability of Naphtha (3 x KL) and allied facilities at a price of Rs.forty four.forty two crore. The Board of Directors of the Company accredited construction of the terminal in March 1999, before IPPs had achieved the financial closure. It was noticed in Audit that approval of the competent authority was not on report for extension of credit score facility without monetary safety. Also, BPCL entered into no agreement with ETI for permitting such credit facility. In the absence of these formalities and as such phrases of cost of interest through the interval of credit and monetary safety in case of default/delay in cost and so on remained unsettled with ETI.

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However, within the technical evaluation meeting (February 1997), which was attended by representatives of the Company, KTI and EIL, it was determined that the tube metallurgy for the cooler ought to be of titanium solely. Despite this, neither KTI, who was liable for furnishing the Basic Design and Engineering Package (BDEP) nor the Company ensured that the above correction was carried out in the BDEP forwarded to L&T. Consequently the information sheet enclosed with the BDEP forwarded to L&T gave an possibility of utilizing either 3RE60 or Titanium in the manufacture of Trim Cooler. Accordingly, L&T opted to make use of grade 3RE60 for manufacturing the Trim Cooler.

Management also replied that the advice of the Committee was beneath active consideration of IOCL. The reply of Management just isn’t tenable, as IOCL had not taken any concrete motion on the recommendation of the Committee even after a lapse of over 18 months and the Company had written off the loss as irrecoverable in its accounts. The whole case wants thorough investigation, as Management had not taken issues significantly and is casual. Thus, the extension of the open credit score facility to ETI without any settlement to safeguard BPCL�s pursuits constituted an undue favour to a non-public party ultimately resulting in a lack of sales revenue of Rs.1.70 crore and interest thereon.

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Well KKDW 17-A was in completion stage and drilling of well KKDW-A had been deferred on the time of mobilisation of the tools. All the selections were taken only after the instruments arrived and have been used more as fait accompli. ONGC, subsequently, deployed (between 28 May 1999 and eight June 1999) the LWD instruments in B-55 A4 and B-55 A1 involving an expenditure of Rs.2.03 crore. The determination of the General Manager (Logging), thus, entailed another fruitless expenditure of Rs.2.03 crore. The drilling of well KKDW 17-A was nearly accomplished by the time the LOA was issued. As regards the second nicely, KKDW-A, the drilling was to be carried out by rig Sagar Vijay which was underneath repairs (December 1997) and was subsequently assigned (February 1998) an alternate location in East Coast.

TCIL was set up in 1978 for offering Indian telecom expertise in all fields of telecom, Civil and IT to creating nations all over the world. The merchandise are used in sectors like energy, electrical, telecom and automotive. The Majority of merchandise are supplied to electricity boards of various states like Maharashtra, Gujarat, Telangana, Madhya Pradesh etc. and turnkey contractors of India. The company’s products cowl the complete vary of voltage & transmission lines appropriate up to 1.1 KV which include LT XLPE Cables, LT PVC Cables, LT Aerial Bunched Cables, AAAC Conductors and ACSR Conductors.

Investor accounts are approved instantly while deposits are confirmed within a couple of minutes. It allows customers to trade on commodities, forex, and cryptocurrency markets. ONGC may have glad the above situation by awarding the repair and procurment job to a registered ship restore unit so that the repairs could be carried out throughout dry-docking. However, slippage by Management on this account resulted in avoidable burden of customs responsibility of Rs.1.10 crore. In October 1995, ONGC observed that a Hydro Impact Stimulation System expertise invented by a foreign firm for growing oil production from oil fields and wells was reportedly being utilized in some oil fields in Russia.

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