The Supreme Court today stayed the Delhi High Court order that directed ONGC to consider Malaysia-based Ramunia Fabricators' bid to develop the B-22 oil field in offshore Mumbai, bringing relief to Larsen &amp; Toubro, which had challenged in the apex court.

<tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
		google_ad_client = 'businessstandard';
		//google_ad_client = 'ca-businessstandard_js';
		google_ad_width = 200;
		google_ad_height = 200;
		google_ad_format = "200x200_as";
		google_ad_type = "text";
		google_ad_channel = "";
		//google_color_border = "FFFFFF";
		google_color_border = "F7F7F7";
		//google_color_bg = "FFFFFF";
		google_color_bg = "ffffff";
		//google_color_link = "639ACE";
		google_color_link = "0253B7";
		google_color_text = "000000";
		google_color_url = "D63431";
		//google_skip = adsenseSkip;
		</script> 
		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>A bench, headed by Justice Ashok Bhan, while issuing the notice to ONGC, Ramunia Fabricators and its Hong Kong-based subsidiary, also restrained the state-run exploration major from taking any action in considering the bid. L&amp;T alleged that the high court should not have asked the state-run exploration major to consider Ramunia's bid despite the fact that it violated the mandatory and essential terms of the tender. PTI 
</p><p class='TableClas'>L&amp;T counsel Harish Salve said that while Malaysia-based Ramunia had submitted its bid pursuant to ONGC's decision to invite bids in May 2007 for its B-22 field development project, the tender documents were submitted by its Hong Kong company. 
</p><p class='TableClas'>According to him, the tender notice clearly specified that the bidding documents were non-transferable and should be submitted only in the name of the bidder or a consortium led by the bidder. </P></p></table>


The Supreme Court today stayed the Delhi High Court order that directed ONGC to consider Malaysia-based Ramunia Fabricators' bid to develop the B-22 oil field in offshore Mumbai, bringing relief to Larsen & Toubro, which had challenged in the apex court.

Stays bidding for ONGC oil field

More From This Section

Posco land acquisition resumes amid protests

Diageo to buy half of Mallya's South Africa beer biz

Average money spent for new players dips

'IndiGo did not comply with AAC guidelines'

Explore News