Vedanta-Videocon win big! Blow to govt as SC says ‘no unjust enrichment’ in Ravva oil fields case

In a setback to the government, which has in recent years challenged a few prominent international arbitral awards concerning Indian projects with not much success, the Supreme Court on Wednesday allowed Vedanta and Videocon Industries to recover $476 million, instead of $198 million capped by the petroleum ministry, for their joint development of the Ravva oil and gas fields off the Andhra Pradesh coast between 2000 and 2007.