Kochhar & Co. advised as legal counsel to GAIL Limited in the arbitration proceedings involving Nagarjuna Fertilizers and Chemicals Limited. Kochhar & Co. acted for GAIL and successfully defended claim of INR 2800 crores by NFCL. Out of NFCL’s total monetary claims of INR 2800 crores, claims worth only INR 4 crores were allowed. The batch Arbitration involved a dispute …
Hyderabad: Justice K. Lakshman of the Telangana High Court dismissed a writ petition filed by Nagarjuna Fertilisers and Chemicals Ltd., against ICICI Bank Ltd. On a detailed analysis, the judge recorded that NFCL had failed to make multiple payments and had “committed various breaches of other terms and conditions”. Justice Lakshman referred to circulars issued by the RBI on the …
