Government wants to know if it can recover $1.55 billion from RIL

NEW DELHI: The government is seeking legal advice on whether it can recover $1.55 billion compensation from Reliance Industries in the gas dispute case with ONGC while arbitration proceedings are underway, people with direct knowledge of the matter said. The oil ministry had directed Reliance in November to pay $1.55 billion, or about Rs 10,600 crore, to the government for “unjust gains” from producing natural gas that had flowed from the adjoining field of Oil and Natural Gas Corp (ONGC). Reliance initiated arbitration against the decision. “We are seeking advice...
5 Published By - The Economic Times - 2017.01.11. 19:43
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