GAIL (INDIA) LIMITED vs TATA POWER DELHI DISTRIBUTION LIMITED

Judgment text excerpt

$~40 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision : 16.04.2026 + O.M.P.(I) (COMM.) 349/2025 GAIL (INDIA) LIMITED .....Petitioner Through: Mr Vivek Kohli, Senior Advocate with Mr. Kartikeya Asthana, Ms. Vasudha Chadha and Ms. Siddhidatri Jha, Advocates versus TATA POWER DELHI DISTRIBUTION LIMITED .....Respondent Through: Mr. Rajiv Nayar, Senior Advocate with Mr. Dhruv Mehta, Senior Advocate, Ms. Shubhi Sharma, Ms. Shambhavi Jha and Ms. Vandana Ragwani, Advocates CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) HARISH VAIDYANATHAN SHANKAR, J. 1. The present Petition has been filed under Section 9 of the Arbitration and Conciliation Act, 19961, seeking the following reliefs: “a. Direct the Respondent to deposit 50% of the total outstanding amount under the agreement, i.e. 50% of Rs 1,29,93,70,061 (Rupees One Hundred Twenty- Nine Crore Ninety-Three Lac Seventy Thousand and Sixty-One only), which comes to an amount of Rs 64,96,85,030.50 (Rupees Sixty-Four Crore Ninety- Six Lac Eighty-Five Thousand Thirty and Fifty Paise only), either in an 1 Act Signature Not Verified Digitally Signed O.M.P.(I) (COMM.) 349/2025 Page 1 of 4 By:VARNIKA Signing Date:17.04.2026 16:29:56 escrow account or with this Hon’ble court; and b. Direct the Respondent to submit a Bank Guarantee/Security Deposit to the Petitioner towards the balance 50% which is Rs 64,96,85,030.50 (Rupees Sixty-Four Crore Ninety-Six Lac Eighty- Five Thousand Thirty and Fifty Paise only). c. Restrain the Respondent from alienating, transferring, encumbering, disposing of, or creating third-party interests in respect of its assets, movable or immovable, tangible or intangible, including any receivables, bank accounts, or actionable claim; and d. Allow the Petitioner to recover/remove its