Reported 3 days ago
The Delhi High Court has ruled against Reliance Industries, ordering the company to pay $1.7 billion to the government over accusations of unjust enrichment from gas extraction in shared pools with state-run ONGC. The court overturned a previous arbitration ruling that favored Reliance, asserting that the company had extracted gas from ONGC's adjacent blocks, confirming the continuity of the gas pool through an independent study. The decision traces back to allegations first raised in 2013, culminating in the recent court ruling.
Source: YAHOO