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Indian court issues 2nd arrest warrant for GP Global bunker tanker – document



Indian court issues 2nd arrest warrant for GP Global bunker tanker – document

In Indian court has issued a second arrest warrant for a marine refuelling tanker, owned by troubled UAE oil trader GP Global after it failed to make payments to its ship manager, court documents showed.

On Sept. 10, the High Court of the Western Indian state of Gujrat granted the vessel manager’s, Singapore-based Celestial Ship Management Pte Ltd, a request to arrest the GP B3 bunker tanker for unpaid dues, according to the court documents seen by Reuters.

On the previous day, the same court granted a request by the National Bank of Fujairah (NBF) to arrest the same GP Global-owned bunker tanker after the oil trader defaulted on a loan payment.

Celestial, which offered technical management, crewing and other services for the GP Global ship, said it was owed over $600,000 in outstanding claims, interest and court fees, the company told the court.

Among the registered directors of Celestial are Prachi Goel and Swati Goel, who are the spouses of the directors and shareholders of GP Global, Prerit Goel and Manan Goel, respectively, according to Singapore company records.

Celestial and GP Global’s Asia Pacific office in Singapore also share the same address, company records showed.

GP Global, a supplier of marine fuels worldwide with offices in Europe, Asia and America told Reuters in an email it would not be able to comment “since the matter is sub-judicial”.

Indian court issues 2nd arrest warrant for GP Global bunker tanker – document

Reuters was unable to find contact details for Celestial.

“Celestial had made repeated requests for payment but the last such payment was received in April 2019 and no such payment has been received thereafter,’’ the court said in the document.

Despite having agreed with the vessel’s owner not to commit their own funds for the payment of expenses incurred by the vendors that the ship’s managers engaged, “Celestial was being chased by the vendors and due to the impeccable reputation of (Celestial), they had to make the payment as they were put in an embarrassing position’’, the company told the court.

In July, GP Global said that it had undertaken a financial restructuring exercise after it failed to “get full support from a few financial institutions’’ and denied rumours questioning the company’s financial condition as ‘blatant lies’.

Later in July, the UAE-based trader said that an internal investigation had uncovered fraud within the company and it had filed criminal complaints against some of its employees.

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