Wednesday, April 2, 2025

JIL - Show Cause Notice - For Renewal of Bank Guarantee


Dear Orchard Flat Owner,

 

Suraksha had submitted PBG of Rs. 100 crores as part of submission of their bid as Resolution Applicant. PBG was to expire on 3.4.2025.

Mr. Kuldeep Verma, HBR in Interim Management Committee received a mail from NARCL regarding the PBG and was asked, if the same can be returned to Suraksha. On request Mr. Verma forwarded the mail to Mr. Prem Khemsara, who in turn, forwarded same to whatsApp group of PMC members of all projects. Total four objections to release of PBG, including by Orchard HB representative in PMC, were sent to NARCL. Accordingly, NARCL advised SURAKSHA to renew PBG before expiry of existing PBG. 

 

Attached documents provide details about the same.

 

Sent on behalf of Mr. Satish Khurana PMC Committee Member of Orchard

 

Regards,

Rajeev Khosla

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