NEW DELHI: The Indian Govt has filed a petition challenging a Delhi High Court order that favoured Reliance Industries Ltd (RIL) in a gas dispute related to the Krishna Godavari Basin. In response to the government’s move, RIL has been asked to file a response. The Delhi High Court’s division bench has scheduled a hearing on this matter for February 12th.
The dispute originated in 2013 when the state-owned Oil and Natural Gas Corp. (ONGC) alleged that there was evidence of gas pools’ lateral continuity between the Reliance block and ONGC’s adjacent blocks, suggesting possible gas migration between them. An independent consultant verified ONGC’s claim, leading to the government seeking $1.55 billion from RIL. An arbitral tribunal’s order in 2018 favoured RIL, a decision upheld by the High Court in May.
The Indian government has taken legal action by filing a petition against a Delhi High Court order that ruled in favour of Reliance Industries Ltd (RIL) in a gas dispute concerning the Krishna Godavari Basin.
Following the government’s petition, RIL has been asked to file a response to the legal challenge.
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The Delhi High Court’s division bench has scheduled a hearing on this matter for February 12th, where both sides will present their arguments.
The dispute originated in 2013 when the state-owned Oil and Natural Gas Corp. (ONGC) alleged that there was evidence of ‘lateral continuity’ of gas pools between the Reliance block and ONGC’s adjacent blocks, suggesting the possibility of gas migration between them.
In response to ONGC’s claim, the government sought $1.55 billion from RIL.
RIL chose to arbitrate the matter, leading to an arbitral tribunal’s order in 2018 that favoured the company.
In May, a bench of the Delhi High Court, led by Justice Anup Jairam Bhambhani, upheld the arbitral tribunal’s 2018 order, stating that the tribunal’s decision was a valid perspective that required no interference.
The legal dispute between the Indian government and Reliance Industries Ltd (RIL) over gas resources in the Krishna Godavari Basin has taken a new turn with the government challenging a Delhi High Court order that favoured RIL. This matter will proceed with a scheduled hearing on February 12th, and both sides will present their arguments before the court.
