Government seeks to curb Reliance Industries’ plan to sell stake to Saudi Aramco
Mukesh Ambani’s Reliance Industries Ltd (RIL) may have to disclose its assets before it can freeze plans to sell 20% stake in its refining and petrochemicals business to Saudi Aramco, reported The Times of India today.
According to the report, the Delhi High Court on Friday asked RIL and British Gas to disclose their assets after the Centre sought to restrain them from disposing of the same.
“In an application filed in September, the government had sought curbs citing the failure of the two companies to honour their payment under a $4.5 billion international arbitral award in the Panna-Mukta and Tapti production sharing contracts,” The Times of India reported.
