Project Cost

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2010 Oue entity is in the Project Stage.On account of non-compliance of the terms and conditions of a contract,the Bank Guarantee given by the contractor was invoked by us.Can we reduce this amount from the project cost? The matter is subjudice.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 July 2010 The question is whether the amont received by invoking a bAnk Guarantee be reducted from the Project Cost ? What happens if a litigation ensues subequently ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 August 2010 According to me this need to consider as Other Income
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