Deepak Fertilisers & Petrochemicals Corp provides business update

With regards to supply of domestic gas to its Raigad plant

Deepak Fertilisers & Petrochemicals Corp announced that pursuant to the Order by Ministry of Petroleum & Natural Gas (MOPNG), the supply of domestic gas to the Company's Plant situated at Plot No.K-1, Taloja MIDC, Dist. Raigad, Maharashtra had been stopped by Gas Authority of India (GAIL) and Reliance Industries (RIL) w.e.f. 6.00 a.m. on 15 May 2014. The Company challenged this decision by filing the Writ Petition W.P.(C) No. 2973 of 2014 before the Hon'ble High Court of Delhi.

The Single Judge of Hon'ble High Court of Delhi vide his Order dated 07 July 2015 disposed of the Writ Petition No. 2973 of 2014 and directed the Government of India to resume the supply of gas to the Company. However, the supply of natural gas was not restored and therefore an appeal was filed before the Division Bench of the High Court of Delhi.

The Division Bench of Hon'ble High Court of Delhi vide its Order dated 19 October 2015, re-affirmed the direction of the Learned Single Judge in his Order dated 07 July 2015 to resume supply of natural gas to the Company. We await compliance of the Order by Government of India.

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