Nayara Energy Limited (Formerly Essar Oil Limited) v. M/S. Oil And Natural Gas Corporation Ltd.

4-OSIA-3667-2022 IN APP-220-2019.DOC Ashwini

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO. 3667 OF 2022 IN APPEAL NO. 220 OF 2019 IN ARBITRATION PETITION NO. 630 OF 2011 AND CROSS OBJECTION NO. 4 OF 2017 IN ARBITRATION PETITION NO. 267 OF 2011 Nayara Energy Ltd (Previously Essar Oil Ltd) ...Applicant In the matter between Oil and Natural Gas Corporation Ltd ...Appellant

Versus

Essar Oil Ltd (Not known as Nayara Energy Ltd)

...Respondent

Mr Gandhar U Raikar, for the Applicant.

Mr Pradeep Sancheti, Senior Advocate, with Pallavi Bali, Anagh Pradhan & Anand Iyer, i/b Divya Shah Associates, i/b Divya Shah Associates, for the Respondent in IA.

ASHWINI HULGOJI GAJAKOSH

CORAM

G.S. Patel & Gauri Godse, JJ.

DATED:

12th September 2022 PC:- by ASHWINI HULGOJI GAJAKOSH Date: 2022.09.13 17:50:29 +0530 12th September 2022

4-OSIA-3667-2022 IN APP-220-2019.DOC 1.

The matter is listed for speaking to minutes of our order dated 28th July 2022. The Applicant (Original Respondent) will be at liberty to furnish a bank guarantee of State Bank of India instead of ICICI Bank. Clause 2(b) will be read accordingly. "(b) 50% of the withdrawn amount will be secured by a Bank guarantee of State Bank of India."

2.

Instead of an undertaking by the Chief Executive OfÏcer, as required in paragraphs 2(c) and 2(d), we permit the undertaking by the Chief Financial OfÏcer and the Chief Operations OfÏcer or COO of the Applicant/Respondent. The other portions of the order remain same.

(Gauri Godse, J) (G. S. Patel, J) 12th September 2022