Thanks FJ.  After that post, I did have another thought that perhaps adds a level of uncertaintly.  I suppose its possible that since the public part of the tender is officially closed, ISRO may only be obligated to inform the actual bidders of any change in timeline.  After all, they are the only ones who could possibly be impacted by a delay.  In this scenario, we wouldn't be aware of a change and would be in the dark for as long as it takes.

Going back to RTV's 120 day deadline.  IMO, regardless of the intended (or amended) schedule, this is how long the bidder's submission must be valid, and potentially represents last possible day in which ISRO can issue a contract before they risk having to restart the entire process, or at least request updated or refreshed bids.  I would suggest this could be used as the drop dead date for ISRO to make some sort of definitive (public?) move but I believe the preferable option by all involved would be to not allow it to reach this point.

Still hopeful things are on track, i's being dotted, etc. but seems likely nearest news is Q3 financials; assuming management sticks to the schedule as seen for Q1 (May 11) & Q2 (Aug 10), we could see Q3 as early as next week!