Petronet Lng Ltd vs Indian Petro Group And Another on 13 April, 2009
(iv) "Petronet LNG not to hand our EPC contract for Dahej expansion project until LNG is tied up
and GSPAs signed", and
(v) "Details of PLL's reconstitution of EPC and finance sub-committees",
(b) On 06.06.2005, the defendants published information under following the headings:
(i) "PLL Kochi LNG terminal: August 2009 is target completion date, BEP consultancy likely to be
given to EIL",
(ii) "PLL Dahej expansion: Single EPC contract for both regasification and tank construction".
(iii) "PLL Dahej Expansion/Kochi Project I: Details of bidding consortia, eligibility criteria and
tender committee recommendations" and CS(OS) No.1102/2006 Page 3
(iv) "PLL Dahej Expansion/ Kochi project II: Details of evaluation of proposals by shortlisted EPC
consortia; and
(d) On 07.06.2005, the defendants published information under following the headings:
(i) "PLL-Kochi project: PLL starts marine studies on advice of Gaz de France" and
(ii) "PLL Dahej expansion : EIL beings work on bid packages".
6. The defendants, says the plaintiff, did not publish confidential/misleading information pertaining
to it (the plaintiff) from 11.06.2005 to 26.04.2006. However, when the plaintiff's officials accessed
the website on 27.04.2006, 28.04.2006, 03.05.2006 and 05.05.2006, it was found that the
defendants had published, inter alia, three news items/articles on 27.04.2006, one news
item/article each on 28.04.2006, 03.05.2006 and 05.05.2006 (hereafter referred as "the offending
news items" pertaining to the plaintiff, which were also sent as e-mail alerts to subscribers, part of
which made sensitive and confidential information public, and part of which was wrong and
misleading. The offending news items are reproduced in the plaint; they are as follows:
A (i) "PLL to co-develop Kochi SEZ, CPT to be developer April 26: Petronet LNG Ltd.,
(PLL) will be a co-developer of the Kochi Special Economic Zone (SEZ) along with
Cochin Port Trust (CPT) which will be the developer. Besides, PLL will also share the
cost of development of Kochi SEZ. On account of being a co-developer, PLL would get
fiscal incentives as per the SEZ Act 2005. These would include waiver of customs
duty on capital imports, waiver of taxes and levies including VAT for procurement of
capital of capital goods within India to SEZ, income has holiday for 10 years and
waiver of stamp duty and service tax. Besides, it would be exempted from taxes and
other levies of local bodies such as Panchayat and municipalities. Though ensuring
export earnings by the units situated in SEZ does not fall in the ambit of the codeveloper's duty, it is expected to develop infrastructure in SEZ. Thus, of the Rs.20
Indian Kanoon - http://indiankanoon.org/doc/8534067/
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