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RIL-BGEPIL dispute: Govt mulls appealing against English court order

Reliance and BGEPIL on Dec 16, 2010, dragged the govt to arbitration over cost recovery provisions, profit due to the state and amount of statutory dues including royalty payable

Gavel, order, judiciary, courts, laws
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Press Trust of India New Delhi
The government on Monday said it will pursue recovery of $3.85 billion from Reliance Industries and its partners in the Panna/Mukta and Tapti oil and gas fields case and is mulling an appeal against an English court order over cost recovery dispute in the same fields.

Reacting to an English High Court last week dismissing India's appeal against a $111 million international arbitration award in favour of Reliance Industries Ltd and Shell-owned BG Exploration and Production India Ltd (BGEPIL), the government in a statement said it has the right to seek leave of the English commercial court to challenge this

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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