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MSC Elsa III owners deposit INR 1,227.62 crore with Kerala High Court for sister vessel's release

#Law & Policy#India#Kerala
Last Updated : 12th Jan, 2026
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Synopsis

The owners of container vessel MSC Elsa III have deposited INR 1,227.62 crore with the Kerala High Court as security, leading to the release of its sister vessel MSC Akiteta II. The amount was submitted through a bank guarantee issued by Standard Chartered Bank, following court approval. The move is linked to a compensation claim filed by the Kerala government after MSC Elsa III sank off the state's coast, causing environmental damage and economic losses to fishermen. The legal case on damages remains under consideration.

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The owners of the container ship MSC Elsa III have deposited a security amount of INR 1,227.62 crore with the Kerala High Court, enabling the release of its sister vessel, MSC Akiteta II, which had been detained as part of an admiralty case. The security was furnished through a bank guarantee issued by Standard Chartered Bank, after the court permitted a change from an earlier requirement that named another lender.


MSC Akiteta II had been conditionally arrested following a petition filed by the Kerala government, which sought compensation for losses arising from the sinking of MSC Elsa III off the Kerala coast. The High Court had initially directed the owners to deposit INR 9,531 crore as security. After hearing submissions, the court later reduced the amount to INR 1,227.62 crore, paving the way for the vessel's release once the guarantee was submitted.

The Kerala government's claim relates to environmental pollution, damage to the coastline, and economic losses suffered by local fishing communities. The state has argued that the sinking of MSC Elsa III resulted in marine pollution and affected livelihoods, requiring large-scale mitigation and clean-up measures.

MSC Elsa III was carrying hundreds of containers when it sank, leading to concerns over the impact on marine life and coastal areas. While the deposit addresses the issue of securing the sister vessel, the main compensation claim filed by the state government continues to be examined by the court.

Source PTI
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