SHENZHEN SHANDONG NUCLEAR POWER CONSTRUCTION COMPANY LIMITED vs VEDANTA LIMITED

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment Reserved on: 22nd December, 2025 Judgment Pronounced on: 12th January, 2026 + OMP (ENF.) (COMM.) 225/2018, EX.APPL.(OS) 553/2019, I.A. 6421/2019 & EX.APPL.(OS) 2944/2022 SHENZHEN SHANDONG NUCLEAR POWER CONSTRUCTION COMPANY LIMITED .....Decree Holder Through: Mr. Gourab Banerji, Senior Advocate with Mr. Anshuman Pande and Mr. Abhishek Bhushan Singh, Advocates. versus VEDANTA LIMITED .....Judgement Debtor Through: Mr. Dhruv Mehta, Senior Advocate with Ms. Ranjana Roy Gawai, Ms. Vasudha Sen, Mr. Vineet Wadhwa, Mr. Keith Vargese and Mr. Shreyas Mittal, Advocates. CORAM: HON'BLE MR. JUSTICE AMIT BANSAL JUDGEMENT AMIT BANSAL, J. 1. The present enforcement petition has been filed seeking enforcement of the Arbitral Award dated 9th November 2017 (hereinafter the “Arbitral Award”). 2. Brief factual background of the case is set out below: 2.1 On 18th April 2012, notice was issued on behalf of the claimant/ decree holder invoking the arbitration clause. The statement of claim was filed on behalf of the decree holder (claimant in the arbitration) on 17th October 2012. Signature Not Verified Digitally Signed By:AANCHAL TAGGAR OMP (ENF.) (COMM.) 225/2018 Page 1 of 28 Signing Date:12.01.2026 17:15:34 2.2 On 12th December 2012, the Division Bench of Bombay High Court passed an order in an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter ‘the Act’), arising out of a petition under Section 9 of the Act, directing the judgment debtor to furnish a security in the sum of Rs.187 crores to the decree holder. An SLP was filed against the said order, which was dismissed in July, 2013. 2.3 On 14th August 2013, a bank guarantee was furnished on behalf of the judgment debtor to the decree holder for a sum of Rs