हिंदी समाचार पढ़े
Expand
O.P. Jindal Global University
 
Home / Latest News / Bombay High Court sets aside Arbitration Award whereby HPCL was to get $113 Million

Bombay High Court sets aside Arbitration Award whereby HPCL was to get $113 Million

February 13, 2019:

In 2017, HPCL was awarded the amount after an arbitration board found that Malaysia’s M3nergy had delayed the finalising of a consortium agreement.

M3Energy HPCL
M3Energy HPCL

Bombay High Court has set aside an Arbitration award of more than Rs 800 crore ($113.19 million) owed to Hindustan Petroleum Corp Ltd by Malaysia’s M3nergy, according to a court document reviewed by Reuters.

In 2017, HPCL was awarded the amount after an arbitration board found that M3nergy had delayed the finalising of a consortium agreement which led to the termination of an exploration contract with India’s Oil & Natural Gas Corp, the Economic Times newspaper reported at the time.

However, the Bombay High Court ruled on Jan. 10 to set aside the award saying the tribunal which ruled in favour of HPCL had no jurisdiction to do so, according to court documents uploaded to the court’s public information system on Feb. 11 & reviewed by Reuters.

Rishab Gupta, a partner at the Indian law firm Shardul Amarchand Mangaldas that represents M3nergy, confirmed on Wednesday the Jan. 10 ruling was for the original Rs 800 crore amount given in 2017.

A company spokesman for HPCL was not immediately available to make a comment when contacted by Reuters.
Source Link

Facebook Comments

 
Related tags :
 
Hindu If India takes One Step, we will take Two by Satish If India takes One Step, we will take Two ...................by Satish

TOI

Hindu

IBN IBN

UIDAI Leaks UIDAI Leaks

TOI

TOI

Four Pillars of Democracy Four Pillars of Democracy             by Satish

Hindu Hindu

Job Hazards State of Two Nations State of Two Nations               pic by sandeep

Hindu

Hindu Hindu Let Justice Be Let Justice Be TOI ALL_1_Theme_01A_24_2383617g

Hindu

TOI

TOI Acheche DIn Acheche Din     pic by sify Time to straighten up Time to straighten up                pic by TOI Hindu Demonitisation Diaries Demonitisation Diaries                                                       by sify

TOI

Demonitisation Diaries 2 Demonitisation Diaries 2  pic by sify Cartoon

...as an eminent lawyer you ought to know that your action tantamount to, under Section B, sub-section G.VIX, read along with I.P.C. (A) XI (B), notwithstanding...                                        TOI

Hindu

[caption id="attachment_97467" align="alignleft" width="621"]Humour with Latest Laws Humour with Latest Laws[/caption] State of Affairs Women Safety: State of Affairs             pic by mangal Hindu TOI

TOI

Hindu Demonitisation Diaries 1 Demonitisation Diaries 1                                  pic by sify  

Hindu

Tax Reforms    by Hindu Tax Reforms by Hindu Auto Driver thrashed for no fault Auto Driver thrashed for no fault,                  source oneindia America First Walk Your own Talk Lawyers Bearing the Burden Literally Lawyers Bearing the Burden Literally pic by OMG

TOI

TOI Hindu Hindu Donald Trump’s immigration ban Donald Trump’s immigration ban

Hindu

TOI

Hindu

Delivery Boy Delivery Boy                    by Satish Belts are for Dogs Belts are for Dogs Pakistan Democracy Pakistan Democracy Painting India Saffron Painting India Saffron 150425_-_farmers_a_2384764f

Hindu

Hindu Soaring of Oil Prices pic by indiaone

TOI

NPA Hurts Public Sector Banks NPA Hurts Public Sector Banks

pinterest

State of JudiciaryState of Judiciary by Sandeep Adhwaryu of TOI

TOI

Missing the Point Missing the Point pic by english blog TOI Netas in Election mode Netas in Election mode Hindu

Hindu

Alligator vs Litigator Alligator vs Litigator Humour @ Latest Laws Achhey Din Humour @ Latest Laws: Achhey Din Pic by Hindu Women Empowerment and Sports Women Empowerment and Sports

Hindu Hindu

Hindu

Download our App
ios icon
android icon
 
 
 

Check Also

ED slaps ₹14.40 lakh penalty, confiscates ₹6.8 lakh in FEMA case against J&K-based separatist- Geelani

March 22, 2019 The Enforcement Directorate (ED) has levied a penalty of ₹14.40 lakh & ordered the confiscation of nearly ₹6.8 lakh in connection with a FEMA case against Jammu & Kashmir-based separatist Syed Ali Shah Geelani, officials said on ...

Leave a Reply

Your email address will not be published. Required fields are marked *