WELSPUN ENTERPRISES LTD Vs. NCC LTD

JUDGEMENT

(1.) As the learned counsel for the respondent appears on advance notice, Caveat stands disposed of.

(2.) The disputes between the parties had arisen in relation to the Memorandum of Agreement dated 19.12.2006 entered into between MSK Projects (India) Limited (MSK), which was subsequently acquired by the petitioner herein, and the respondent, whereby the respondent sub-contracted a flyover project to the petitioner's predecessor-in-interest on item rate basis for a total value of Rs. 53.25 crores.

(3.) Indian Oil Corporation Limited and Nafto Gaz India Private Limited (Nafto Gaz) entered into an EPC contract in respect of 'Balance Offsite & Utilities and Interconnection with Panipat Refinery / Marketing Terminal (EPCC-9 Package)' in the Panipat Naphtha Cracker Project. Nafto Gaz, in turn awarded the said contract in favour of the Respondent herein also on EPC basis. Out of the work awarded in favour of the respondent, the respondent sub contracted the work in respect of inter-connecting flyover between existing Panipat Refinery and Panipat Naphtha Cracker Project ("PNCP") to the petitioner.