JUDGMENT :

1. This writ petition is filed by the petitioner seeking the following relief:-

“A. Issue a writ, order or direction including a writ in the nature of Mandamus, directing Respondent to permit Petitioner to make additional commitments and payments of USD 300 Million to its wholly owned subsidiary namely Jindal Steel and Power (Mauritius) Limited by way of equity subscription or loan or corporate guarantee or bank guarantee or through other permitted mode from Indian Bank for meeting its debt obligations;”

2. The petitioner is said to be a company with business interest in steel manufacturing, power generation, mining of iron ore, lime stone and coal. It is claimed that the petitioner has a business strategy of both forward and backward integration so as to be the most competitive company in the market. To optimise the cost of raw material required for manufacturing as also to have a linkage to raw material like coking coal, the petitioner set up various overseas subsidiaries including (i) Jindal Steel & Power (Mauritius) Ltd. (also called JSPML), a company incorporated