Delhi high court hits centre in Reliance case

New Delhi: The Delhi High Court today dealt a blow to the government in the case of Mukesh Ambani’s Reliance Industries Limited, UK company British Petroleum and Canadian company Nico Resources transferring gas from the ONGC-managed gas field in the KG-D6 block of the Bay of Bengal. The Delhi High Court had earlier upheld an arbitration tribunal ruling in favor of Reliance and its foreign affiliate in the case.

It was alleged by the Union Petroleum Ministry that Reliance, British Petroleum and Nico Resources have fraudulently extracted gas in ONGC’s fields. On November 4, 2016, the Petroleum Ministry demanded $1.47 billion from the above three companies. However, on July 24, 2018, an international tribunal in the same case rejected the claim of the Ministry of Petroleum and awarded a compensation of 8.3 million dollars in favor of the three companies. On Tuesday, Delhi High Court judge Anup Jayaram Bhambani upheld the said verdict.

Leave a Reply

Your email address will not be published. Required fields are marked *