MAHAGUJ COLLIERIES LTD. vs ADANI ENTERPRISES LTD.

1-JUDGE-CARBP-483-2018 -.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO. 483 OF 2018 WITH NOTICE OF MOTION NO.1066 OF 2018 Mahaguj Collieries Ltd. …Petitioner (Original Respondent) Versus Adani Enterprises Ltd. …Respondent (Original Claimant) Mr. Sanjay Jain, a/w Ms. Sneha Phene, Mr. Jayendra Kapadia, Ms. Anupreeta Bhat & Mr. Indraneel Nanoti, for the Petitioner. Mr. Ashishchandra Rao, a/w Ms. Ria Dalwani, Ms. Urja Thakkar & Ms. Aditi Rai i/b Economic Laws Practice, for the Respondent. CORAM: SOMASEKHAR SUNDARESAN, J. RESERVED ON: APRIL 9, 2026 PRONOUNCED ON: JUNE 25, 2026 JUDGEMENT: Context and Factual Background: 1. This is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, (“the Act”) impugning an Arbitral Award dated February 1, 2018, (“Impugned Award”) by which, a Learned Arbitral Tribunal June 25, 2026 Rutuja Borse 1-JUDGE-CARBP-483-2018 -.doc has directed the Petitioner, Mahaguj Collieries Limited (“ Mahaguj”) to pay a sum of Rs. ~32.79 Crores to the Respondent, Adani Enterprises Limited (“Adani”), which as the lead member of a consortium along with