Shardul Amarchand Mangaldas and Co successfully defends Godawari Green Energy Limited’s invocation of a performance guarantee of INR 55 crores against Lauren Jyoti Private Limited
January 20, 2020
Shardul Amarchand Mangaldas & Co (SAM & Co) advised as legal counsel to Godawari Green Energy Limited (“GGEL”) in the arbitration proceedings involving Lauren Jyoti Private Limited (“LJPL”). SAM & Co acted for GGEL and successfully defended GGEL’s invocation of a performance bank guarantee of INR 55 Crores against LJPL. The dispute in Arbitration arose out of an EPC Contract for design and construction of a solar thermal power plant awarded by GGEL to LJPL. GGEL’s monetary claim against LJPL was also allowed to the extent of Rs. 2 Crores.
The Arbitration involved a dispute arising out of the design and construction of India’s first solar thermal power plant commissioned under the Jawaharlal Nehru National Solar Mission and involved interesting technical questions on functioning of a solar thermal power plant. The Contract value was approx. Rs. 550 crores.
The SAM & Co arbitration team was led by Mr. Ameya Gokhale, Partner, Mr. Vaibhav Singh, Principal Associate, Ms. Salonee Kulkarni, Senior Associate, Ms. Sukriti Jaiswal, Associate and Ms. Avni Merchant, Associate.
Lauren Jyoti Private Limited, a joint venture between Lauren Engineers & Contractors Mauritius Limited and Jyoti Structures Private Limited was represented by Senior Counsel Mr. Mustafa Doctor and Counsel Mr. Ashish Kamat assisted by a team of lawyers from AZB & Partners.