In a recent development, the Bombay High Court has ruled a verdict in favor of state-owned oil biggie Oil and Natural Gas Corporation (ONGC) on the appeal by a vendor, who had sued ONGC for the cancellation 0f a contract worth Rs. 1,000 crore.
The plaintiff, Core Offshore Services Pvt. Ltd. had approached the Bombay High Court for a favorable verdict against their conflict with ONGC on the issue of cancellation of the order, without giving any scope to present their stance.
The origin of this case is lying in the much-hyped tender, which was floated in January 2015 by ONGC for the charter hiring of tugs and barges for the operation in the Mumbai offshore.
As per the version of Core Offshore; they got the confirmation from ONGC in October 2015 of short listing of their company but in a later stage, on the basis of complaint, made by Halani Shipping Pvt. Ltd., the tender process got scrapped by ONGC, which incurred a loss of face and integrity for the company.