Oil And Natural Gas Corporation Limited vs The Official Liquidator Appointed In ... on 15 February, 2019

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Bombay High Court

Oil And Natural Gas Corporation Limited vs The Official Liquidator Appointed In ... on 15 February, 2019

Bench: S.J. Kathawalla

kpd                                      1   / 2                     904-CAL-654-2018.doc

               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                     ORDINARY ORIGINAL CIVIL JURISDICTION
                     COMPANY APPLICATION (L) NO. 654 OF 2018
                                             IN
                           COMPANY PETITION NO. 550 OF 2013


M/s. Oil and Natural Gas Corportion Limited                    ...        Applicant
In the matter of
ETA Star Holdings Ltd.                                         ...        Petitioner
         Versus
The Official Liquidator appointed to
M/s. Hydrocarbon Development Co. Pvt. Ltd.                     ...        Respondent
         V




Mr. Karl Tamboly alongwith Ms. Apurva Gupte, Mr. Zaid Ansari and Mr. Mangesh
Kokare instructed by Zaid S. Ansari and Associates for the Applicant - Shabnam
Memon - Ex-Director of the Company in liquidation.
Ms. Rui A. Rodrigues alongwith Mr. A.M. Mishra for the Union of India.
Mr. Anukul B. Seth instructed by Ms. Pooja V. Thorat for the Ex-Direcotrs - Siva
Ravindran and S. Ranjan Das.
Mr. Akshat Khare alongwith Mr. Suresh Pandey for ONGC (Mehsana).
Mr. Suhas Sawant, Deputy OL, present.


                                       CORAM : S.J. KATHAWALLA, J.

DATED : 15th FEBRUARY, 2019 P.C.:

1. The Ex-Directors of the Company - Ms. Shabnam Memon undertakes to comply with the order passed by this Court dated 29 th January, 2019 within a period of one week from today.

2. The Ex-Directors shall supply approximately 770 barrels of crude oil to ONGC stored at the site within a period of one week from today. The statement is accepted. ::: Uploaded on - 20/02/2019 ::: Downloaded on - 17/03/2019 14:41:54 :::

kpd 2 / 2 904-CAL-654-2018.doc

3. The Ex-Director - Ms. Shabnam Memon undertakes that save and except complying with the aforestated statement recorded in clause (2) above, the Ex-

Director shall not conduct any exploration operations / commercial activities at the site.

4. The Official Liquidator shall be at liberty, to raise invoices on the Indian Oil Corporation for 599.578 barrels of crude oil already sold by the Company in liquidation to the Indian Oil Corporation Limited (IOCL), and to also raise invoices pertaining to 770 barrels of crude oil in compliance of the order dated 29 th January, 2019.

5. The IOCL shall make payment within a period of 15 days from the date of receipt of the invoices in accordance with the crude off take and sales Agreement dated 23rd February, 2001.

6. The amount received by the Official Liquidator shall be used / disbursed by the Official Liquidator only after seeking directions from this Court.

7. The above Company Application (L) No.654 of 2018 is disposed off.

8. Stand over to 22nd February, 2019 at 3.00 p.m. ( S.J.KATHAWALLA, J. ) ::: Uploaded on - 20/02/2019 ::: Downloaded on - 17/03/2019 14:41:54 :::

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