Delhi HC asks Cairn to go for arbitration in 2 weeks

The dispute is about refund of payment made by Cairn for operating Ravva oilfield in K-G basin

The Delhi High Court on Wednesday directed Cairn India Limited to commence arbitration on an ongoing dispute with Videocon Industries Limited, Oil and Natural Gas Corporation (ONGC) and Ravva Oil, regarding the refund of payments made by Cairn on behalf of Videocon for the operation of the Ravva oilfield in the Krishna Godavari basin, within two weeks.

The Ravva oil and gas field is being operated in partnership by Cairn, which has a 22.5 per cent participating interest, ONGC with a 40 per cent share and Videocon and Ravva Oil, with 25 per cent and 12.5 per cent stakes, respectively. The