Bombay HC allows crew of arrested TAG Offshore ship to disembark – NEWS – The Hindu BusinessLine

The Bombay High Court has allowed 16 crew members stranded on board a ship owned by bankruptcy-bound TAG Offshore Ltd to disembark without attracting any civil and/or criminal liability for leaving the ship that was arrested in early April to recover dues worth Rs. 80.07 lakh for supply of grease and lubricants.

It is considered unlawful to disembark from a ship without the permission of the Director-General of Shipping, India’s maritime administration.

MT Tag Navya is currently in the possession of the Sheriff of Mumbai after the Bombay High Court ordered her arrest on April 2 on an admiralty suit separately brought by SES Bunkering Pvt Ltd.

TAG Offshore was formed in 2003 by demerging the offshore business of Essar Shipping Ltd. The Mumbai-based firm offers marine support services to offshore oil exploration, production, marine construction, port and terminal activities. The top management of the firm is related to the Ruia brothers, the promoters of Essar Group.

Weighed down by financial stress, the fleet owner has not paid salaries to its crew for more than six months, according to one of the crew members.

On Wednesday, the Bombay High Court allowed the 16 sailors to disembark from the arrested ship on a petition filed by nine of the 16 sailors.

On April 24, the Mumbai bench of the National Company Law Tribunal (NCLT) admitted a petition brought by an operational creditor R H Petroleum Pvt Ltd to initiate corporate insolvency resolution process against TAG Offshore under the Insolvency and Bankruptcy Code (IBC).

NCLT has appointed Pramod Mulgund as the Interim Resolution Professional (IRP) to oversee the insolvency process.

R H Petroleum moved NCLT to recover Rs. 80.07 lakh for supply of grease and lubricants to TAG Offshore.

via Bombay HC allows crew of arrested TAG Offshore ship to disembark – NEWS – The Hindu BusinessLine

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