Delhi High Court asks Reliance Industries, British Gas to disclose assets on Centre plea
NEW DELHI: The Delhi High Court has asked Reliance IndustriesNSE -1.89 % (RIL) and British Gas (BG) to disclose their assets on the central government’s plea for directions to both companies not to dispose of their assets.
The government has sought to restrain the two companies from disposing of their assets as they have allegedly failed to pay it USD 3,856,734,582 as per an arbitral award in favour of the Centre in relation to the Panna-Mukta and Tapti (PMT) production-sharing contracts.
Justice J R Midha has directed the two companies to file an affidavit of their assets in accordance with the new format of form 16A under the Civil Procedure Code (CPC) that the high court has drafted in a recent judgement.
