Arbitral Tribunal and including to exercise Right of First
Refusal (“ROFR”) and for other consequential reliefs.
2. Shorn of unnecessary details, some of the relevant ... believed that it would get an opportunity to
exercise the option of ROFR and match the lowest bid, in
terms of the order dated 23rd
MGSC, Gujarat Gas had
a Right of First Refusal („RoFR‟) that entitled it to receive the
entire volume of gas meant for sale to Apraava ... Apraava
Energy GSC, which would have entitled Gujarat Gas to exercise its
RoFR, namely to invoke the „step-in‟ clause, to purchase the entire
volume
allow the petitioner to use its option of Right of First
Refusal (RoFR).
2. The case of the petitioner is that the petitioner ... providing the domestic players (i.e. those offering
Indian Flag Vessel) the RoFR by matching the most competitive
Petitioner has a right of first refusal
("ROFR") in respect of the shares of Respondent No. 1, if the same are
desired ... CONTROVERSY
5. In terms of the ROFR Clause, Respondent no. 1 offered its entire
shareholding of 16,20,00,000 shares constituting 13.5% stake
growth and development of Indian Ships. A
Right of First Refusal (RoFR) was available to an Indian Ship wherein any
customer/consumer/charterer who wished ... Indian Ships against Foreign Ships, (which was previously allowed),
nullifies the RoFR. It completely ignores the Indian character of a ship being
the only relevant
threshold price fixed by the Developer to third parties
without offering ROFR to the Developer.
56. It is further alleged that the Owners are forcefully ... Counsel for the Developer, submits that
12
Hereinafter referred to as "ROFR"
Digitally Signed
By:MAYANK O.M.P.(I) (COMM.) 231/2025
Concessionaire has a legal and contractual „Right of
First Refusal‟ (the"ROFR") under Article 16.5.1 of the Concessions
Agreement which thereafter has been ... Security, is
entitled to offer a bid by way of exercising its ROFR under the Concessions
Agreement and the RFP. More particularly, the Ld. Counsel
Challenge, however, petitioner will be provided with the Right of First
Refusal [„ROFR‟] to match the bid of H1 bidder.
11. Sequel to above, respondent ... bidder.
14. The petitioner vide its letter dated 05.07.2025 exercised its ROFR,
and improved on the H1 bid, offering an amount
rights, they were subject to a 'Right of First Refusal'
(ROFR) under clause 3.7. The transfer restrictions were thereafter
4/28
::: Uploaded ... conditions of the proposed sale. GVK is said to have
exercised the ROFR, but failed to purchase the Sale Shares within the time
specified
Agreement to remove the
Right of First Refusal (for short "ROFR") and any other transfer related
restrictions and further stated that upon such ... 2026 20:45:16 :::
IAL.5834.2026.doc
acknowledged ROFR provisions under the Shareholders' Agreement
under which Defendant Nos.4 to 8 were required
