GAIL (INDIA) LIMITED vs FOCUS ENERGY LTD. AND ORS.

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 28.10.2024 Judgment pronounced on: 07.01.2025 + O.M.P.(I) (COMM.) 281/2024 & I.A. 39649/2024 GAIL (INDIA) LIMITED .....Petitioner Through: Mr. N. Venkatraman, ASG, Mr. Amitesh Chandra Mishra, Mr. Ankit Chaturvedi, Ms. Sunidhi Singh, Advs. versus FOCUS ENERGY LTD. AND ORS. .....Respondents Through: Mr. Arun Kathpalia, Sr. Adv., Mr. Swapnil Gupta, Mr. Ekansh Mishra, Mr. Abhinav Mishra, Mr. Vaibhav Mendiratha, Advs. for R-1 to 3. Mr. K.R. Sasiprabhu, Mr. Vishnu Sharma, Mr. Vinayak Maini, Mr. Prakhar Agarwal, Advs. for R-4. CORAM: HON'BLE MR. JUSTICE JASMEET SINGH JUDGMENT : JASMEET SINGH, J 1. This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996 (“1996 Act”) seeking the following substantial prayers: “A. Pass an ex-parte ad interim Order directing the Respondents to maintain status quo and continue the supply of gas to the Petitioner in terms of the Gas Sale and Purchase Agreement (GSPA) till the make-up gas is supplied in its entirety Digitally Signed O.M.P.(I) (COMM.) 281/2024 Page 1 of 30 By:MAYANK Signing Date:07.01.2025 19:25:28 B. Grant an interim measure extending the Restoration Period from 4 months to such additional period until all the Balance Make-up Gas is supplied by the Respondent No.1; or C. Pass an Order directing the Respondents to deposit the balance Annual Take or Pay (AToP) amount of Rs. 156.75 Crores with this Hon’ble Court or furnish adequate security in lieu thereof; and D. Pass an Order directing the Respondents to furnish the details its assets free from encumbrance, sufficient to secure the amount due to the Petitioner towards the make up gas; and E. Issue an order restraining the Respondents, from alienating, transferring, encumbering or otherwise disp