The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields.
On June 9, the high court judge Ross Cranston reportedly ruled that the government should have earlier brought its objections over the arbitration tribunal not meeting the required thresholds when issuing the 2021 award.
Rejecting the government’s arguments, the court said the objections are barred by an English law principle whereby a party cannot raise matters in new proceedings that could have been raised in earlier proceedings, a PTI report said.
