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Press Corp has been under pressure the stock is down about 10 in trade and there are a couple of issues plaguing here maybe one particular thing which is highlighted an annual report of the company is well page 142, and they are speaking about some receivables from an entity called TRI max with which its joint venture company on our, so she ate company entered into a development agreement at am the bar to talk about how serious this issue could be what's the state of the receivables and what could happen ahead strata Kumar now he's the CEO of quest co-op joins us right now on the phone line mister not good have you thanks so much for joining in you highlighted this in your annual report I reckon this is now moving around in market circles as a result of which the street seems to be a bit worried about these receivables can you clarify for us yeah you know highlight a couple of things you know this is the project we are doing in Elizabeth Smart City the project has been almost completed, and it is good to know that this project has been adjudicated as the best mod city project in India, and it was twice not once twice is the best Mar City project the project has the final stage we expected to be completed maybe another 30 days to 40 or 60 days the know in a government project always you know takes into a collection takes some time the final SAT we call final acceptance test things are going on currently and once those things will be over I think the payments will come you know if this is payment is coming from the schedule and Elizabeth Municipal Corporation that is the SPD which is created for the smart city, and we are very confident when you work with the government that it may get a little delayed, but the know is the sovereign China and you are working with other side is the sovereign party, so there is no it's a question or doubt in my mind about the perfect ability or recoverability of this amount I hope that in the next two to three quarters this project will get completed and the front week coming mister not please clarify, and please tell me about this issue I think the NCL tea has given a try max the joint venture partner I believe the Mumbai bench honored commencement of corporate insolvency resolution process for try max and if that is the case the receivables for TC PIL and thereby you would be under cloud right now let me explain to you this the project has been executed by the JV what we have with the Trivet the entire funding has been done by us the China issues whatever they have currently the money or the funds they all through the various banks and not a single rupee here from the bank finals have gone into this project the project has been funded entirely by us and executed by us, and we have a separate arrangement escrow arrangement with the turmeric IT as for the day arrangement that the escrow that monies from the schedule will be coming to a separate escrow agreement and that money will be flow from that escrow agreement...
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