Execution timeline: 380 days from date of order issuance
Parties Involved
Company receiving order: Popular Foundations Limited
Entity awarding order: Rajalakshmi Institute of Technology (accredited by NAAC - "A++" GRADE, NBA, approved by AICTE & Government of Tamil Nadu, affiliated to Anna University)
Company representatives: Soniya Sharma (Company Secretary and Compliance Officer), Mr. A.S. Venkatesh (Managing Director)
Institute representative: Dr. Sree Shankar Meghanathan
Project Details
Nature: Domestic order for Construction of Super Structure works
Location: RIT-Homi Bhabha Block Phase III, Kuthambakkam, Chennai
Project scope: Proposed G+7 floors with terrace with facilities
Construction design: As per drawings issued by structural and architectural consultants of Rajalakshmi Institute of Technology
Contract Terms
Schedule of Rates remains fixed till completion of contract (Annexure-1 attached)
Material escalation applicable on major construction materials as mentioned in offer
Commencement: Immediate
Time is the essence of the contract
Supporting facilities beyond contractual completion date not applicable (e.g., scaffolding charges)
Related Party Considerations
Promoter/Promoter Group/Group Companies have no interest in the entity that awarded the order
Does not fall within related party transactions
Additional Information
No delay in reporting
Duplicate copy of letter to be signed as token of acceptance
