Moily has junked arbitration to help Reliance, Dasgupta tells court
The HinduThe Supreme Court on Monday issued notice to the Centre, Petroleum Minister M. Veerappa Moily and Reliance Industries Limited on a public interest litigation petition challenging the government’s decision to double the price to $8.4 per million British thermal unit for gas produced from the KG basin. Senior counsel Colin Gonsalves, appearing for the petitioners, said the decision to raise gas price should be reviewed as the Minister had overruled the opinion of senior officers of his ministry and his predecessor. When Justice Sathasivam wanted to know “why the parties can’t go for arbitration,” counsel pointed out that the Minister had given a statement that he wanted to junk arbitration and that the government would not proceed with the process. The Petroleum Ministry is deliberately not proceeding with arbitration to allow RIL to get away without paying penalties for the shortfall in production.” The petitioners sought a direction to RIL and NIKO to forthwith relinquish those areas of the KG basin as recommended by CAG; to appoint a third arbitrator and to proceed with arbitration expeditiously and complete it within six months; to fix the price of domestically produced gas in rupees, and not in dollars or any other currency, and to stay the doubling of the gas price.
History of this topic
Non Applicability Of Section 9 Of The A&C Act Can't Be Presumed If Parties Opted For Foreign-Seated Institutional Arbitration: Delhi High Court
Live Law
Government to move High Court against Reliance arbitration award, says Pradhan
India TV News
SC lets RIL to hold arbitration in London
The Hindu
Moily colluding with RIL to make a mockery of arbitration: Dasgupta
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