Govt loses challenge to $111 million arbitration award in dispute with Reliance/Shell
The government has lost its appeal in the English High Court against a USD 111 million arbitration award in favour of Reliance Industries Ltd NSE -2.33 % and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields.
High Court judge Ross Cranston on June 9, 2022 ruled that the government should have brought its objections over the arbitration tribunal not meeting the required thresholds, when issuing the 2021 award earlier, two sources with knowledge of the matter said.
