Guwahati: A proposal to make direct payment to vendors and sub-contractors to accelerate work on Guwahati water supply project has been made.
The insolvency resolution professional appointed by the National Company Law Tribunal (NCLT) for Iragavarapu Venkata Reddy Construction Limited (IVRCL), the company hired to set up water distribution system under the project, recently wrote to the managing director-cum-project director of the project implementation unit (PIU) of the Guwahati water supply project to consider the option.
The letter by the insolvency resolution professional was issued after the PIU warned termination of the IVRCL’s bid if it could not accelerate work on the project on account of being unde…
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