New Delhi, Feb. 14 -- In a setback for Mukesh Ambani-led Reliance Industries Ltd (RIL), the Delhi High Court's (HC) division bench on Friday overturned an international arbitration tribunal's ruling that had previously favoured the company in its $1.7 billion dispute with Oil and Natural Gas Corp. Ltd (ONGC) over alleged gas migration from adjoining fields.
The bench, comprising justices Rekha Palli and Saurabh Banerjee, also set aside a May 2023 single bench ruling that had upheld the 2018 arbitration award rejecting the government's claim.
The court, in its ruling, stated: "In view of the above, we are setting aside the impugned order dated 9 May 2023, passed by the learned single judge, and the arbitral award issued by the arbitral t...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.