Essar v. ArcelorMittal: Bombay High Court upholds ruling of Single Judge, Essar companies to deposit Rs. 80 crore as security amount
Essar, ArcelorMittal

Essar v. ArcelorMittal: Bombay High Court upholds ruling of Single Judge, Essar companies to deposit Rs. 80 crore as security amount

The Division Bench of Justices RD Dhanuka and VG Bisht dismissed the appeals and extended the time granted by the Single Judge to deposit the security amount by four weeks.

The Division Bench of Bombay High Court today upheld the Single Judge ruling which had directed Essar Services India Private Limited (ESIPL) to deposit Rs. 47.41 crore and Essar House Private Limited (EHPL) to deposit Rs. 35 crores as security deposit in an arbitration dispute with ArcelorMittal Nippon Steel India Limited.

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