Petronet Lng Ltd vs Indian Petro Group And Another on 13 April, 2009 Teekay Shipping Corp. Oman Shipping Co. Exmar Marine NV A.P. Moller - Maersk PLL has also mooted a special purpose company for the transportation of LNG to India. It is proposed that PLL would hold 49% equity in the company, (Click on details for a full analysis of the selection process." B. The offending news item published on 28 April 2006; "PLL resists PMO directive that bulk of Kochi LNG should go to NTPC "April 27 : Petronet LNG Ltd., (PLL) has sought the approval of its board to limit the supply of LNG from its Kochi terminal to NTPC's Kayamkulam power project at 0.3 MMTPA, which would meet the requirements of the power plaint's existing capacity of 350 MW. This is despite a specific directive form PMO - issued by Principal Secretary T.K.A Nair - that the Kayamkulam project should get 2.1 MMTPA of LNG, out of PLL's total terminal capacity of 2.5 MMTPA, to help meet the power palint's requirements when its capacity is enhanced to 2,340 MW. PMO had also directed that the 0.4 MMTPA is to go to BPCL for captive use at Kochi Refinery Ltd., (KRL), Clearly, LNG offtakers - GAIL, IOC and BPCL - are unhappy about the fact that the entire LNG quota would get earmarked to only two consumers. The trio had plans to market the gas to a clutch of industries - including fertilizer companies - which are currently using naphtha as fuel or feedstock. GAIL is also reported to be unhappy with PMO's direction that its petrochemical plant in Kochi - based on extraction of c2+ fractions from LNG - be put on hold until the terminal's LNG processing goes up to 5 MMTPA. The additional LNG - to take capacity to 5 MMTPA - is meant to have been sourced from Iran but GSA for the gas is yet to be ratified by the Iranians, casting a shadow over the availability of this gas for the Kochi Plant." C. the offending news item published on 03.05.2006 CS(OS) No.1102/2006 Pa PLL plans $ 100 million FCCB: ADB bailout in case of redemption pressure "May 2 : The management of Petronet LNG Ltd., (PLL) is forced to conduct some tight maneuvering no picking up additional funds - to meet conditions precedent that financial closure be tied up by June 30, 2006 set by LNG supplier for its Kochi LNG Plant - without immediate placing any pressure on expanding the already high equity base - of Rs.750 crore- of the company. The management had mooted a $ 100- million foreign currency convertible bond (FCCB) issue to plug the financing gap but there were differing views - within a four member committee set up to took into the proposal - in Indian Kanoon - http://indiankanoon.org/doc/8534067/ 5