The Bombay High Court extended restrictions on the transfer of Maire’s assets from India

Mumbai, Maharashtra Feb 19, 2026 (EMWNews.com) – The Bombay High Court (Mumbai, India) has concluded hearings on an application filed by EuroChem Severo-Zapad-2 (ECSZ-2) seeking interim measures against assets of the Italian engineering and industrial group MAIRE. The hearings took place between January 13 and February 11 as part of proceedings to recognize and enforce in India a Russian court judgment awarding more than RUB 171 billion (USD 2.2 billion) against MAIRE-controlled entities — Tecnimont S.p.A. and its Russian subsidiary MT Russia.

Following the hearings, the Court deferred its decision on the interim measures pending consideration of the case on the merits. At the same time, the Court continued the undertaking given by the respondent’s counsel on behalf of Tecnimont, that until judgement is delivered on request for interim measures the respondent will not take any actions to prejudice ECSZ-2’s claims against assets in India. The undertaking includes assurance by Tecnimont not to transfer funds outside India other than in the ordinary course of business.

“We view the outcome of the recent Court hearing positively and consider the Court’s decision as confirmation of the validity of our legal position. The process is progressing consistently and in full compliance with international legal mechanisms,” — stated ECSZ-2.

The legal dispute stems from MAIRE group entities breaching their obligations under a contract for the construction of one of Europe’s largest ammonia and urea production plants in Kingisepp (Leningrad Region). In November 2025, the Moscow Arbitration Court upheld ECSZ-2’s claim for joint and several liability against the contractors for unearned advance payments, interest, and damages arising from the project’s failure.

EuroChem Severo-Zapad-2 emphasizes that it continues to pursue its legal strategy aimed at ensuring the enforcement of Russian court decisions in all countries where the MAIRE group conducts operations.

You can find previous publications on that matter here:

https://dailypioneer.com/news/bombay-high-court-grants-interim-relief-in-eurochem-enforcement

https://www.thehindubusinessline.com/news/russias-eurochem-moves-bombay-hc-to-recover-dues-from-maire-group/article70497584.ece

https://indianexpress.com/article/business/eurochem-hc-seize-assets-worth-billion-italian-company-maire-10466444/