HC upholds tribunal verdict favouring Reliance Industries in gas sale case
The Delhi High Court (HC) on Tuesday dismissed the Centre’s petition accusing Reliance Industries (RIL) and its partners of draining gas from their deposits and making a profit off it.
In doing so, Justice Anup Jairam Bhambhani upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
“This court is not persuaded to hold that the conclusions drawn by the arbitral tribunal are such that no reasonable person would reach. Suffice to say that the view taken by the arbitral tribunal is most certainly a ‘possible view’, which calls for no interference,” the order read.
