Bombay High Court grants interim relief in EuroChem enforcement
The High Court of Bombay on Monday heard interim applications in proceedings initiated by EuroChem Severo-Zapad 2 (ECSZ-2), a Russian company, seeking recognition and enforcement in India of a foreign judgment issued by the Arbitration Court of Moscow against Tecnimont S.p.A., an Italian engineering company and a subsidiary of the Maire Group.
The Russian arbitral court judgment directs the recovery of more than 171 billion rubles (approximately $2.2 billion) from Tecnimont. While EuroChem Severo-Zapad 2 did not issue a public statement on the hearing, submissions on its behalf were made by Prateek Bagaria, Attorney at Singularity Legal, who represents ECSZ-2 before the Bombay High Court.
According to counsel’s commentary, the High Court agreed, at this interim stage, with the applicant’s arguments and issued directions restraining Tecnimont from taking steps that could frustrate or obstruct enforcement of the Russian court judgment.
Specifically, the court ordered that Tecnimont must not remove assets from India and must not transfer funds outside the ordinary course of its business operations.
The interim injunction will remain in force until the next scheduled hearing on January 19, 2026, when the court is expected to consider issues relating to the potential attachment and execution of Tecnimont’s assets in India.
The court’s order effectively requires Tecnimont to maintain the status quo in relation to its Indian assets, which are understood to be valued at over EUR 300 million. These assets may become subject to execution proceedings, depending on the outcome of subsequent hearings.
Counsel further indicated that the court’s directions also prevent Tecnimont from pursuing parallel anti-enforcement proceedings in London, at least for the duration of the interim order, thereby preserving the enforceability of the Russian judgment within Indian jurisdiction.
With the interim phase now concluded, the matter will proceed on its merits in accordance with established procedural law. At the next hearing, the High Court will consider ECSZ-2’s application for further interim protective measures, along with two additional motions filed by the defendant.
The case is being closely watched by the legal and arbitration community, given its implications for the enforcement of foreign judgments in India, cross-border commercial disputes, and the treatment of Russian court awards by Indian courts amid evolving geopolitical considerations.
