Delhi High Court presses government to explain Vedanta CB-OS/2 rejection
The Delhi High Court is pressing the government to explain why it turned down Vedanta's request to extend its oil and gas contract for the CB-OS/2 block in Gujarat.
The court emphasized transparency, asking officials to clarify their stance, either through an affidavit or a statement from Attorney General R Venkataramani.
Government rejected extension citing SAED deduction
The government rejected Vedanta's extension because the company deducted its Special Additional Excise Duty (SAED) from the government's profit share, which apparently broke 2017 policy rules.
Vedanta pushed back, saying this move doesn't match how similar cases were handled before.
The matter has been listed for further hearing on Wednesday, and there's talk of possibly shifting toward a new revenue-sharing policy in future decisions.