Aravalli, it is good to see you taking a strong interest in IRL....

Aravalli, it is good to see you taking a strong interest in IRL.
After reading the December Quarterly report it shows just how dishonourable HCL is. Not only have HCL not paid the AUD$4.5 million which has been owing for 17 months but now they only pay a paltry AUD$1.2 million for the closing of Surda Mine. It is rather big of HCL, they have paid a miserable amount of AUD$400,000 so far, this is far beyond a joke now. The Surda mine was shut down because HCL hadn't competed all items necessary for the renewal of the Mining Lease, and now they make IRL suffer due to their incompetence.

"HCL established a Claims Committee (HCLCC) that recommended that 63M INR (A$1.2 million) be paid to IRL for outstanding claims including material escalation and liquidated damages relating to the Arbitration Award and fixed costs relating to the closure of the plant. IRL had claimed 191M INR (A$3.7 million) and continues to strongly object to the recommendation of the HCL claims committee. "

IRL have claimed AUD$3.7 million for the closure of the mine but HCL have formed their own Claims Committee and decided that they will pay only AUD$1.2 million. This is an absolute disgrace.
Why would anyone want to do business with people like these.
To make matters worse, HCL also paid 19.65M INR (AUD$378,000) directly to IRL employees, which has not been included in the cash flow.
What an insult, to pay IRL's employees directly rather than HCL paying IRL who would have then paid their own employees.
HCL is a dishonourable company, I do not know why anybody would want to do business with them.
I note in the Quarterly Report that Arvind expects Surda to reopen in the March Quarter
"Mining operations at the Surda Mine are expected to recommence in the March 2015 quarter "

Well I think that shareholders should email our Directors and tell them that we request that the mine stay closed until every last $$$$$$$ is paid.
Its time this obedient little puppy grows some teeth and turns into a savage American pit bull terrier.
That means the arbitration award of $4.5 million plus interest at 12%pa, plus the AUD$3.7 million claimed for the mine closure plus a new contract detailing the material escalation and liquidated damages relating to the Arbitration Award.
No pay, no work. Its as simple as that.