(1) The Bidder will be required to submit a bid security along with the proposal for undertaking the Infrastructure Project, the bid security amount will be determined based on the Project cost by the Government Agency or the Local Authority.
(2) The procedure for refund of bid security will be specified in the request for proposal. In any event, the bid security of unsuccessful Bidder would be returned within 30 calender days from the date of selection of the Developer.
CHAPTER - IV GENERIC RISKS DISCLOSURE AND ALLOCATION, SECURITISATION, RIGHT OF LENDERS AND FACILITIES TO BE PROVIDED BY THE GOVERNMENT AGENCY OR THE LOCAL AUTHORITY.
28. The Government Agency or the Local Authority will as far as possible disclose Generic Risks involved in a Project and a list of such Generic Risks along with allocation and treatment of such Generic Risks may be provided in the Concession Agreement or other contract to be entered into between the Government Agency or the Local Authority and the Developer. The Government Agency or the Local Authority will make optimum disclosure of the Generic Risks, however if any risk is not disclosed due to inadvertence or due to circumstances beyond the control of the Government Agency or the Local Authority, then the same shall not be a ground for any claim, demand or dispute by the Developer.
29. The Government Agency or the Local Authority may facilitate a Developer to securitise Project receivables and Project assets in favour of Lenders subject to such terms as Bid security.
Generic Risks Disclosure and its allocation and treatment.
Facilitation of securitisation.
26 [Act No.36 of 2001] may be fixed by the Government or by the Infrastructure Authority to safeguard the successful implementation, completion, working, management and control of the project.
30. The Lenders will be entitled to recover their dues from the Developer and Project receivables in the form of User Levies and in the event of default by the Developer in completing or implementing a Project, the Lenders will have the right to substitute the Developer with the consent of the Government and subject to the approval of such substituted Developer by the Government Agency or the Local Authority and by the Infrastructure Authority, on the same terms and conditions as applicable to the previous Developer or with such modifications as may be specifically approved by the Infrastructure Authority.
31. The Government Agency or the Local Authority will provide all facilities to the Developer for obtaining statutory clearances at state level, for providing power and water at Project Site during construction on such terms as may be prescribed and provide best effort support for obtaining Central Government clearances and assistance in rehabilitation and resettlement activities, if any, incidental to the Project on such terms as may be prescribed.
CHAPTER - V CONCILIATION BOARD
32. The State Government may, by notification, establish a Board to be called the “Conciliation Board” with effect from such date as may be specified.
33. The Board will comprise of 3 members and will have a retired High Court Judge acting as its Chairperson and two other members who shall be experts in the field of either infrastructure or finance or banking or law.
Rights of Lenders.
Facilities to be provided by the Government Agency or the Local Authority.
Establishment of the Board.
Constitution of the Board.
[Act No.36 of 2001] 27
34. The Board will have its permanent Head Quarters at Hyderabad and the Board shall meet under the Chairpersonship of the Chairperson.
35. Every member of the Board shall hold office for a term of 3 years from the date of appointment. The State Government shall be entitled to reappoint any member or members for one more term of 3 years.
36. The terms and conditions of appointment, remuneration and perquisites of the members shall be such as may be prescribed by the Government.
37. The functions of the Board shall be as follows,-
(a) To assist the Government Agency or Local Authority and any Developer in an independent and impartial manner to reach an amicable settlement of their disputes arising under the Act or the Concession Agreement;
(b) The Board shall be guided by principles of the objectivity, fairness, obligations of the parties, the usages of the trade and the circumstances governing the disputes including the good business practice prevalent in the national and international field covered by the dispute between the parties;
(c) The Board may conduct the conciliation proceedings in such a manner as it may consider appropriate, taking into account the circumstances of the case, the wishes of the parties that may be expressed and for reaching a speedy settlement of the dispute;
(d) The Board may, at any stage of the conciliation proceedings, make proposals for settlement of dispute.
Such proposal need not be in writing and need not be accompanied by any statement of reasons therefor.
Head Quarters.
Term of Office of the members.
Terms and conditions of appointment.
Functions of the Board.
28 [Act No.36 of 2001]
38. In order to facilitate the conduct of the conciliation proceedings, the Board with the consent of the parties, may arrange for administrative assistance by a suitable institution or person.
39. The Board shall have the same powers as are vested in a Civil Court under the Code of Civil Procedure, 1908 while dealing with the conciliation proceedings in respect of the following matters, namely:-
(i) The summoning and enforcing the attendance of any party or witness and examining the witness on oath;
(ii) The discovery and production of any document or other material as evidence;
(iii) The reception of evidence on oath;
(iv) The requisitioning of the report of any body or any analysis or decision from the appropriate forum or laboratory or other relevant sources;
(v) The issuing of any commission for examining any witness;
(vi) The power to regulate its own procedure and prescribe rules; and
(vii) any other matter, which may be prescribed.
40. Every proceeding before the Board shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code, 1860 and the Board shall be deemed to be a Civil Court for the purpose of section 195 and Chapter XIV of the Code of Criminal Procedure, 1973.
Administrative assistance.
Powers of the Board.
Central Act 5 of 1908.
Judicial proceeding.
Central Act 45 of 1860.
Central Act 2 of 1974.
[Act No.36 of 2001] 29
CHAPTER - VI CONCILIATION PROCEEDINGS.
41. Any dispute, claim or difference arising out of or in connection with or in relation to any Concession Agreement or contract between the Government Agency or Local Authority on the one hand and the Developer on the other hand, shall as far as possible, be amicably settled between the parties. In the event of any dispute, claim or difference not being amicably resolved, such dispute, claim or difference shall be referred to the Conciliation Board.