Reliance Industries tears into government affidavit, says no final arbitration award due

Reliance Industries has mounted a strong counter to the government petition in the Delhi High Court seeking to block its USD 15 billion deal with Saudi Aramco, saying the petition is an abuse of process as no arbitration award has fixed any final liability of dues on the company.

In a counter affidavit, Reliance said it was a “falsehood” to say that the arbitration tribunal had passed an award requiring the company and its partners to pay USD 3.5 billion to the government. ?

It said the petition is an abuse of process as “it portrays that a sum of money is due and payable under the final award and purports to compute the money payable on a basis neither found in the arbitration award nor disclosed in the petition.”