Chennai: Reacting to the news item "CBI probes Chettinad firm's breach of accord with Kamrajar Port Limited " published in Deccan Chronicle on Saturday (4 March 2017) Chettinad International Coal terminal Pvt Ltd, (CICTPL) said that the company would fully co-operate with the investigation of the CBI.
"It is true that there are disputes between our company and Kamaraj Port Limited in relation to the payment of revenue share arising out of augmentation charges. The disputes, after several rounds of litigations, are now pending before the Hon'ble Division Bench of High Court of Madras. It is true that CBI has filed FIR and as a law abiding citizen, we will fully cooperate with investigations of the CBI in the said case," a communication to this newspaper from the firm said.
The allegations in the FIR filed by the CBI pertaining to payment to KPL under various heads is of a civil nature and already decided by the Arbitral Tribunal. We have paid the entire dues to KPL in December 2016, under protest, in accordance with the Award of the Arbitral Tribunal and as such there are no pending dues to KPL from our company arising out of arbitration proceedings. We are confident that we will come out clean in the said CBI case, the email from the firm further said.
The e-mail, however, denied the allegation that KPL had paid CICTPL for liquidated damages and interest on incidental charges and for road construction. "There was no payment made by KPL to our company on account of interest waiver on lease payment and for road construction as claimed in your article," said the mail.
