Reliance Industries Moves Supreme Court Against HC Order Scrapping $1.7 Billion Arbitration Award

Reliance Industries Ltd (RIL), along with partners BP Exploration (Alpha) and Niko Resources, has moved the Supreme Court challenging the Delhi High Court’s decision to set aside a 2018 international arbitration award.

The arbitration had favored RIL in a dispute over allegations that natural gas migrated from ONGC’s blocks into RIL’s KG-D6 block, resulting in a $1.729 billion government claim.

The High Court quashed the award, citing ‘patent illegality'.

RIL argues that the High Court lacked jurisdiction to review the merits of the tribunal’s decision, which it maintains is binding under the Production Sharing Contract. The Supreme Court has not yet scheduled the hearing.