MMTC LIMITED Vs. TRANSAMMONIA AG. ZURICH

JUDGEMENT

(1.) I.A. 5084 of 2015 (for exemption) Exemption allowed subject to all just exceptions.

(2.) In terms of this contract, TAG agreed to supply and sell to MMTC, a net quantity of 2,00,000 metric tonnes ("MTs") (+/- 10% at TAG's option) of Granular/Prilled bulk Urea ("product") on CFR basis, subject to certain terms and conditions stipulated therein.

(3.) In terms of the contract, the product was to be loaded in 4/8 lots at the option of TAG. The rate was US Dollars ("USD") 525 per metric tonne ("PMT"). On 9th November 2011, TAG nominated a vessel (MV Kiran Europe) for transportation of a quantity of 48-50,000 MT +/- 10% MTs bulk urea to MMTC in terms of the schedule laid down in the contract. The consignment was to be loaded at Constanza, Romania and delivered at Krishnapatnam in India.