GAIL Loses USD 7 Million Arbitration to Jindal Saw Ltd.

The Delhi High Court dismissed GAIL's appeal against an arbitral award requiring it to pay over USD 7 million to Jindal Saw Ltd. The dispute arose from delayed delivery of goods, with GAIL deemed responsible. The single judge's decision upholding the award was considered merited.

The Delhi High Court has upheld an arbitral award that mandates GAIL to pay USD 7 million to Jindal Saw Ltd, rejecting GAIL's appeal as unmerited.

Justices Vibhu Bakhru and Sachin Datta found that GAIL was responsible for delaying the delivery of pipes by not accepting them promptly.

The dispute dates back to 2002, leading to a legal battle, finally resolved in favor of Jindal Saw by the court, asserting the award's validity under the Arbitration Act.

(With inputs from agencies.)