The case involves a dispute over the ownership of a slurry pipeline asset of Essar Steel India Limited (Corporate Debtor) which is undergoing Corporate Insolvency Resolution Process (CIRP). Essar Steel had entered into a Business Transport Agreement (BTA) with Odisha Slurry Pipeline Infrastructure Limited (Respondent No. 1) for the transportation of slurry. Subsequently, a Right to Use Agreement (RTUA) was also executed. Later, a Deed of Cancellation was entered into to cancel the BTA and RTUA. However, SREI Infrastructure Limited (Respondent No. 2), a lender to Respondent No. 1, objected to the cancellation. A civil suit was filed by Respondent No. 2 challenging the cancellation. The Resolution Professional of Essar Steel filed an application (IA 419 of 2017) seeking
…Essar Steel India Limited (ESIL), the Corporate Debtor, entered into a Business Transport Agreement (BTA) dated 27.02.2015 with Odisha Slurry Pipeline Infrastructure Limited (OSPIL), Respondent No. 1, for pipeline transportation of slurry between Dabuna and Paradeep in Odisha for Rs. 4000 crores. Clause 2.3 of the BTA outlined the purchase consideration payment terms. On 30.03.2015, ESIL entered into a Right to Use Agreement (RTUA) with OSPIL, allowing OSPIL to use the pipeline's capacity for 20 years, with ESIL receiving usage charges. OSPIL also executed loan agreements on 28.03.2015 to finance the purchase consideration. On 31.08.2015, an addendum to the RTUA was executed, linking pipeline usage charges to the purchase consideration paid by OSPIL. A Deed of
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Essar Steel India Limited entered into a BTA…
Essar Steel India Limited entered into a RTUA…
The case involves a dispute over the ownership of a slurry pipeline asset of Essar Steel India Limited (Corporate Debtor) which is undergoing Corporate Insolvency Resolution Process (CIRP). Essar Steel had entered into a Business Transport Agreement (BTA) with Odisha Slurry Pipeline Infrastructure Limited (Respondent No. 1) for the transportation of slurry. Subsequently, a Right to Use Agreement (RTUA) was also executed. Later, a Deed of Cancellation was entered into to cancel the BTA and RTUA. However, SREI Infrastructure Limited (Respondent No. 2), a lender to Respondent No. 1, objected to the cancellation. A civil suit was filed by Respondent No. 2 challenging the cancellation. The Resolution Professional of Essar Steel filed an application (IA 419 of 2017) seeking
…Essar Steel India Limited (ESIL), the Corporate Debtor, entered into a Business Transport Agreement (BTA) dated 27.02.2015 with Odisha Slurry Pipeline Infrastructure Limited (OSPIL), Respondent No. 1, for pipeline transportation of slurry between Dabuna and Paradeep in Odisha for Rs. 4000 crores. Clause 2.3 of the BTA outlined the purchase consideration payment terms. On 30.03.2015, ESIL entered into a Right to Use Agreement (RTUA) with OSPIL, allowing OSPIL to use the pipeline's capacity for 20 years, with ESIL receiving usage charges. OSPIL also executed loan agreements on 28.03.2015 to finance the purchase consideration. On 31.08.2015, an addendum to the RTUA was executed, linking pipeline usage charges to the purchase consideration paid by OSPIL. A Deed of
…Essar Steel India Limited entered into a BTA…
Essar Steel India Limited entered into a RTUA…