Jamshedpur, Dec. 15 -- The In On Constitution company has stopped depositing the daily collection of parking fees and has surrendered the contract for the main entry parking lot at Tatanagar station, citing huge daily losses, officials confirmed on Monday, adding that the Railways have come out with fresh quotations for re-auction.

In July this year, the In On Constitution had taken the contract for running the parking lot at Rs.7 crore for three years, which was Rs.3 crore more than the previous contract with Shell Engineering.

"The In On Constitution has two more weeks of the penal period to pay the collection amount with a penal fine. If they fail, we will go for re-auctioning the main entry parking lot. We have already released fres...