Noida Toll Bridge retrenched 8. SC order. Assessing the financial loss to the company post the Supreme Court order, Noida Toll Bridge Company Chairman Raj Bhargava said they had to retrench 8. Last month the Supreme Court had refused to stay the Allahabad High Court verdict restraining the toll company from collecting toll at the Delh- Noida- Delhi (DND) flyway that connects Delhi and Noida. Can you just give us an update on what the status of the litigation is now and how many employees have you asked or have you let go off? A: At the moment, we have got the order from the honourable Supreme Court which said that we should continue not to charge any toll but maintain the road and in the mean time we had to have a look at the financials that we have. Normally, we spend about Rs 9. We have about 4. 50 employees. We examined the issue and we found that it was not possible for us to sustain so many employees and maintain their expenditure that will require for maintenance without undertaking certain extreme steps with regards to the employees. As a consequence, we had to retrench about 8. However, we told them that as and when the company gets back to normal, we would be very happy to employ them back. This has resulted in a huge disappointment for the staff but we had no choice. Even the contractual employees had to be reduced and something like 3.
This has a problem with us because the cash flows that we have is based on whatever toll we collect every day. We have to spend lot of money on the electricity, maintenance of the place, looking after the people who drop in for getting back their money from us and so on and so forth. Latha: What happens if you don’t win the appeal against the High Court, the company can’t sustain? A: What we are given to understand from the honourable Supreme Court is that after the Comptroller and Auditor General (CAG) looks into the profitability of the company and comes to the conclusion that we still need to get all the money that we require for the 2. Till such time as we can retrieve the entire money and pay not only our employees but also our shareholders. We have about 8. 0,0. Anuj: If the final Supreme Court order also goes against the company, in that case what are the options left because the toll has to operate but as you are saying that is the only source of income, so do you have land bank that you would sell, how do things move from here just want to understand that? A: We have no control over the land bank; let us put it very clearly. We have only control on the concession agreement, which lays down that in the event of any such thing change of law taking place then we got to be reimbursed by the government of Uttar Pradesh and Noida Authorities to the extent that the independent auditors can calculate the amount that is due with the company and that is the only source that we will have. After that obviously, the company will have to go into liquidation because we have no further income coming in. However, we hope that the money which we can get from the Noida Authorities and the government of Uttar Pradesh it will be possible for us to pay back certain amounts of money to our shareholders and also to employees as part of retrenchment dues, their PF funds, their ESI funds and all those funds which are required to be paid to the employees at the time of retrenchment. Latha: Basically, you await the CAG now? A: The CAG is on the work, they came in two days ago and they are having a look at all the accounts and they are checking. We are waiting for their results. Lyrics to 'Blue Monday' song by NEW ORDER: How does it feel To treat me like you do When you've laid laid your hands upon me And told me who. Assessing the financial loss to the company post the Supreme Court order, Noida Toll Bridge Company Chairman Raj Bhargava said they had to retrench 80 employees and have laid-off 143 employees. Last month the Supreme Court had. Laid, order, final, scene, gay group sex porn videos, men porn videos, vintage gay porn videos.
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