Supreme Court lets Delhi High Court continue $2.31bn Reliance hearing
The Supreme Court has cleared the way for the Delhi High Court to keep hearing a big-money case: the government is claiming $2.31 billion from Reliance Industries and partners over old offshore oil field contracts.
The main issue? Allegations that Reliance went over cost recovery limits and pocketed extra revenue.
The Supreme Court declined to interfere and allowed the Delhi High Court to continue hearing the appeal on merits, while keeping Reliance's maintainability objection open.
Reliance gets another chance to object
Reliance will get another shot to raise objections after the High Court's final decision.
The center started enforcing an arbitral award back in 2019, but it was dismissed since arbitration was not finished yet, leading to more appeals and rulings.
Now, everyone is waiting to see if the High Court will let part of the award be enforced before arbitration wraps up.