RIL PMT Oil Field

The two firms had gone to the English High Court against the 2016 partial award

The RoC on Monday moved the NCLAT requesting to amend its order and remove the word "illegal" with respect to the conversion of Tata Sons from a public company to private company

Why the Govt is trying to stop Reliance from selling assets to Aramco

The Delhi high court ordered RIL and BG Exploration and Production India Ltd, a unit of Shell India, to disclose their assets after the Centre sought to restrain the companies from disposing them

The government has ordered Reliance Industries to pay a penalty over an arbitration award for its Panna Mukta Tapti (PMT) oilfield, Reliance Industries said in a statement to BSE on Tuesday. The company, however, said the notice was premature."RIL as part of the contractor for Panna Mukta and Tapti production sharing contracts, has been notified by Government of India (GOI) of its computation of the purported share of GOI's Profit Petroleum and Royalty alleged to be payable by the Contractor pursuant to the GOI's interpretation of Arbitration Tribunal's Final Partial Award dated 12 October 2016 ("Partial Award")," RIL said in its statement to BSE.The company further added, "Government's demand notice is premature. The quantification of liabilities (if any) of the parties arising out of the partial award have to be determined by the Arbitration Tribunal after the Parties have made their respective submissions on quantification."The company said the tribunal is yet to schedule the ...