Krishna-Godavari Basin Gas Dispute: Supreme Court allows Reliance Industries to explore settlement with Centre
The Supreme Court has allowed Reliance Industries to explore an amicable settlement with the Centre in the Krishna-Godavari basin gas dispute.Summary
The Supreme Court has agreed to a request from Reliance Industries Ltd (RIL) to explore an amicable settlement with the Centre regarding the long-running Krishna-Godavari basin gas migration dispute. The bench, comprising the Chief Justice of India and Justices Joymalya Bagchi and Vipul M Pancholi, took note of submissions by senior advocate Kapil Sibal and Attorney General R Venkataramani, who indicated the government's willingness to consider conciliation. The court has adjourned the matter to the third week of July, stating it would be happy to dispose of the appeal if a settlement is reached. This decision comes after the court previously declined a request to defer the hearing, as the companies sought mediation to resolve the dispute amicably. The case involves appeals by RIL, BP Exploration (Alpha) Ltd, and Niko (NECO) Ltd against a Delhi High Court verdict that set aside an arbitral award in their favour.
(Source：Et Now)