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L&T gets an ultimate shock from T-Govt

A shock news to the L&T project holders of the Metro rail in Hyderabad. The actual project is estimated to be Rs.14,132 crores. So, according to Building and Other Construction Workers’ Welfare Cess Act, 1996, L&T company should pay 1% of the labour cost.

But, till date it paid only 1 crore out of the 141 crores. So, the government has taken a serious decision about it and is very much aggressive to give a reverse punch to L&T. Even after many reminders the company failed to pay the 1% of the amount, that is 140 crores.

So, the Department of Labour of Telangana State is now all set to issue a final notice to the company to immediately clear the remaining amount or if not the government may seize the moving assets of the project. So, the government is serious in action from this week if the company fails to pay the amount.

This amount is mandatory because the amount will be utilized for the welfare of the labour and compensations will be given in case of injury or death. However, if the company will make it late it has to suffer a penalty of another extra 50% of the 141 crores. So, this could be the bumper shock to L&T!

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