HC seeks Vedanta reply on $512mn OIL cost DISPUTE
New Delhi, Sept. 11 -- The Delhi high court on Thursday issued notice in Centre's petition challenging an arbitral tribunal order allowing Vedanta to retrospectively adjust old accounts and recover about $512 million in exploration costs from the Centre's share of profit petroleum, in a dispute arising from a production sharing contract (PSC) for the exploration, discovery, development and production of petroleum resources in Rajasthan's Barmer district.
A bench of justice Tushar Rao Gedela sought Vedanta and its wholly owned subsidiary Cairn Energy Hydrocarbons Limited's response in the petition challenging tribunal's June 4 ruling.
The dispute arose from a PSC entered into by the Centre, ONGCLtd and Shell India Production Development (whi...
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