Delhi HC upholds order for GAIL to pay $7.2 million to Jindal Saw
ECONOMY & POLICY

Delhi HC upholds order for GAIL to pay $7.2 million to Jindal Saw

The Delhi High Court has upheld a 2002 arbitral award directing GAIL (India) to pay $7.2 million, along with interest, to Jindal Saw Ltd (formerly Saw Pipes Ltd) in a dispute concerning a global tender for the upgradation of the gas pipeline system. The court's Division Bench, comprising Justices Vibhu Bakhru and Sachin Datta, reaffirmed the arbitral tribunal’s decision that GAIL was responsible for delays in the delivery and should honor the agreed contract amount without deductions.

The original dispute arose after Saw Pipes failed to meet the delivery deadlines due to delays by GAIL, exacerbated by force majeure events. GAIL had withheld payments, citing delays, but the tribunal had ruled in favor of Saw Pipes. The court rejected GAIL’s appeal, stating that the tribunal's decision was reasonable, and upheld the payment order, including interest and costs.

The Delhi High Court has upheld a 2002 arbitral award directing GAIL (India) to pay $7.2 million, along with interest, to Jindal Saw Ltd (formerly Saw Pipes Ltd) in a dispute concerning a global tender for the upgradation of the gas pipeline system. The court's Division Bench, comprising Justices Vibhu Bakhru and Sachin Datta, reaffirmed the arbitral tribunal’s decision that GAIL was responsible for delays in the delivery and should honor the agreed contract amount without deductions. The original dispute arose after Saw Pipes failed to meet the delivery deadlines due to delays by GAIL, exacerbated by force majeure events. GAIL had withheld payments, citing delays, but the tribunal had ruled in favor of Saw Pipes. The court rejected GAIL’s appeal, stating that the tribunal's decision was reasonable, and upheld the payment order, including interest and costs.

Next Story
Infrastructure Urban

PM Modi unveils development projects in Bihar's Jamui

Prime Minister Narendra Modi launched a series of development projects worth Rs 6,640 crore in Bihar's Jamui district, aimed at transforming infrastructure, healthcare, education, and livelihoods, particularly in tribal areas. Modi attended a function commemorating the 150th birth anniversary of Birsa Munda, marking 'Janjatiya Gaurav Divas.' The PM unveiled a special commemorative coin and postal stamp in Munda's honor, before participating virtually in the 'Grih Pravesh' ceremony for 11,000 newly-built homes for tribal families under the PM Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN). The ..

Next Story
Infrastructure Urban

Jabil partners with Gujarat Government for Rs 1,000 crore investment in Dholera

US-based electronics manufacturer Jabil has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up an electronics manufacturing services (EMS) facility in the Dholera Special Investment Region (DSIR). The MoU, valued at Rs 1,000 crore, was signed on November 14, 2024, in the presence of Gujarat Chief Minister Bhupendra Patel. The state-of-the-art manufacturing unit will focus on sectors including networking, automotive, and capital goods, and is expected to begin operations by 2027, creating around 5,000 jobs. Jabil, with over 100 global locations, will leverage its ..

Next Story
Infrastructure Energy

India signs MoU with IEA for Enhanced Cooperation on critical minerals

On November 14, 2024, India’s Ministry of Mines signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to strengthen cooperation in the critical minerals sector. The MoU, aimed at boosting data sharing, analysis, and policy recommendations, is designed to improve India's decision-making and resource management in this vital area. The agreement was signed by V. L. Kantha Rao, Secretary of the Ministry of Mines, and Dr. Fatih Birol, Executive Director of the IEA, in the presence of Union Minister G. Kishan Reddy. The collaboration will focus on capacity building..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000