Serious shortfall in investment and progress can lead to the impleadment of additional parties for inquiry.

1. Mr. Vijay Srivastava, Regional Officer, NHAI, Ranchi and Mr. Devendra Kumar Gupta, Project Director, NHAI, Ranchi are present on behalf of the respondent NHAI. Mr. Rash Bihari Singh, Engineer-in-Chief, Road Construction Department, Ranchi and Mr. Lalu Oraon, Executive Engineer, Road Construction Department, Ranchi (Gramin) are present on behalf of the respondent State. Mr. K. Srinivasa Rao, Managing Director of the respondent No. 6 Agency and Mr. B. Ramachandra, Authorized Signatory-cum-Project Manager, REL are also present on behalf of the respondent No. 6 Agency. Mr. Anand Swarup Sharma, BSE, AARVEE Associates (IE), Ranchi are present on behalf of Independent Engineer.

2. Pursuant to our previous order dated 20.09.2017, Canara Bank, lead Banker, has appeared on service of notice. The respondent Agency has filed one supplementary affidavit pursuant to the last order wherein it states that M/s. Ranchi Expressways Ltd. is a Special Purpose Vehicle (SPV) Company incorporated for the purposes of execution of the work relating to Ranchi-Mahulia Section of NH-33 by the NHAI and work is to be executed out of the own funds and other sources of investment by own accord project is known as Design, Build, Finance, Operate and Transfer (DBFOT) annuity basis under NHDP Phase-III. The SPV does not have assets of its own and it is not required under the law to have its own assets. It further discloses the assets of the Managing Director and two Directors of the Board of Directors of SPV.

3. Today on being specially confronted, learned counsel for the respondent Agency informs that the Principal Holding Company which has set up SPV, is Madhucon Infra Private Limited. However, there is no mention of the Principal Holding Company in its affidavit, though as per the purport of the order, the Agency should have come clean on this aspect. The Agency should have come fair in relation to the entire incorporation of the SPV and the Principal Holding Company behind it. The stand of the Agency in the present affidavit on this count, appears to suppress the important relevant facts from the Court. We once again direct it to disclose the entire assets of the Principal Holding Company and its promoters, Directors, Managing Director, their assets and security that have been created while entering into the agreement with the lender Canara Bank. This affidavit further refers to a chart showing progress of the work up to 28.10.2017 (Annexure-D and E) by the Independent Engineers M/s. AARVEE Associates. The Agency has also raised a point that the performance security bank guarantee for Rs. 73.95 crores with the respondent NHAI, has not been released despite the appointed date i.e. 04.12.2012 having crossed long back. In respect of execution of the work, as per their revised programme, they have infused Rs. 3.42 crores after the order dated 20.09.2017 while the banker provided the loan of Rs. 6.87 crores, totalling 9.87 crores. However, Bank has adjusted the amount of Rs. 8.48 crores against interest during construction, leaving behind only an amount of Rs. 1.39 crores to the project work which has adversely affected the progress of the work.

4. We may observe here that during the deliberation on the previous dates, the Agency had orally apprised the Court through their counsel that it has intent to infuse funds from their sources and other projects being executed by it in different States.

5. In relation to the issue of environmental clearance, it states that the environmental clearance has not been granted in respect of three mines at village Ulatu. The issue relating to extension of mining lease at village Dubla is pending before the Deputy Commissioner District Mining Officer, Ranchi which they are regularly pursuing. Lastly, they have stated that due to intermittent rainfall spread up to Diwali i.e. 21.10.2017, progress of the work has been affe