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M/s.Oil and Natural Gas Corporation Ltd., v. M/s.Shiv-Vani Oil and Gas Exploration Service Limited

Madras HC9 Jan 2026A/115/2026

Case brief

AI extract

What is this about?

Payment out / withdrawal of deposited award amount; ONGC v. Shiv-Vani Oil and Gas Exploration Services Ltd.; A.No.115 of 2026 in O.P.No.1007 of 2015; Madras High Court; decided 09-01-2026 by N. Anand Venkatesh, J.; main petition challenging sole arbitrator's award allowed and award set aside by order dated 10.09.2025; deposit made as condition for stay; Rs.89,11,046/- with accrued interest ordered to be paid to applicant by online transfer; no statutes or precedents discussed.

What did the court decide?

Permission granted for payment out of Rs.89,11,046/- along with accrued interest lying to the credit of O.P.No.1007 of 2015 to the applicant by online transfer to Account No. 10471668364, IFSC Code SBIN0003485, Bazaar Branch, Rajahmundry, Andhra Pradesh, as prayed for. ¶24

M/s.Oil and Natural Gas Corporation Ltd., Vs M/s.Shiv-Vani Oil and Gas Exploration Service Limited — Madras HC (2026) — LawSathi Research

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A.No.115 of 2026 in O.P.No.1007 of 2015

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED: 09-01-2026

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CORAM

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THE HONOURABLE Mr. JUSTICE N. ANAND VENKATESH

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A.No.115 of 2026 IN O.P.No.1007 of 2015

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M/s.Oil and Natural Gas Corporation Ltd. Having its registered office at Jeevan Bharti Tower II 124 Cannaught Circus, New Delhi and site office at Godavari Bhavan, 1^st Floor, B wing, Base Complex Rajahmundry - 533 106

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Applicant(s)

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M/s.Shiv-Vani Oil and Gas Exploration Service Limited (Amalgamated with SVUL Projects Ltd) having its registered office, at Tower-1, 5th Floor, NBCC Plaza Sector-5, Pushp Vihar, Saket, New Delhi - 110 017

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2.Honourable Mr.Justice N.V.BALASUMBRAMANIAN (Retd.) Sole Arbitrator, No.40, Sankarapuram, Alemelumangapuram, Mylapore, Chennai - 600 004.

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3.The Offcial Liquidator High Court, Delhi

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Respondent(s)

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PRAYER

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To order payment of a sum of Rs.89,11,046/- (Rupees Eighty Nine Lakhs Eleven Thousand Forty Six only), along with the accrued interest lying to the credit of O.P.No.1007 of 2015, to the Applicant by online transfer bearing Account No. 10471668364, IFSC Code SBIN0003485, Branch Bazaar Branch, Rajahmundry, Andhra Pradesh.

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For Applicant(s): Ms.Anbarasi Rajendran for M/s.AAV Partners

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https://www.mhc.tn.gov.in/judis

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A.No.115 of 2026 in O.P.No.1007 of 2015

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N. ANAND VENKATESH, J.

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gya

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ORDER

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This application has been filed seeking permission to the petitioner to withdraw the amount deposited to the credit of the Original Petition along with accrued interest.

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2.The petitioner had filed a petition in O.P.No.1007 of 2015 challenging the award passed by the sole arbitrator. The said petition came to be allowed by an order dated 10.09.2025 and the award was set aside. At the time of admission, the petitioner was directed to deposit the award amount as a condition for the grant of stay. Accordingly, the petitioner has deposited the amount. Since the award has been set aside and the petition has been allowed, the present application has been filed seeking for payment out.

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3.Considering the fact that the main petition has been allowed, this Court is inclined to allow this petition as prayed for.

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09-01-2026

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gya

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A.No.115 of 2026 in O.P.No.1007 of 2015

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https://www.mhc.tn.gov.in/judis