No immediate liability in PMT profit dispute: Reliance Industries
Reliance IndustriesNSE -1.89 % has said it has no immediate liability in the dispute with the state over profits from Panna, Mukta and Tapti (PMT) fields because the arbitration tribunal has not ordered any payment so far.
It claimed authorities have exaggerated the sum by ignoring the latest legal order that reduces the government’s claim “very significantly.” Further, the liability, if any, will be shared by partners in the fields, in which RIL held a 30% interest, the company said in response to ET’s query.
The Times of India had reported on Saturday that the Delhi High Court has asked RIL and partner BG (now Shell) to disclose their assets after the Centre sought an order restraining disposal of assets including sale of stake to Aramco. The next hearing is on February 6.
