PMT Fields Case: UK court says Indian govt can’t contest its order

New Delhi: A UK court has denied the Indian government permission to appeal a recent order that potentially reduced the liability of RelianceNSE 1.17 %, Shell and ONGCNSE 1.31 % in the ongoing arbitration over the finances of the Panna, Mukta and Tapti (PMT) oil and gas fields, sources familiar with the matter said.

The court on Friday denied government the leave to appeal in the so-called ‘agreement case’ in the decade-old PMT dispute over sharing of profit between the government and three companies that operated the fields. This apparently means the arbitration panel would have to reconsider the issue in view of the court’s latest order, sources said.