The Supreme Court of India has dismissed an appeal by the Ministry of Petroleum and Natural Gas regarding a case involving the development of Ravva oil and gas fields in Rajasthan. This decision clears the way for the foreign arbitral tribunal to award costs to Vedanta Ltd's predecessor, Cairn India. The dispute, dating back to the early 2000s, centered on cost recovery related to exploration activities under a production sharing contract. The tribunal had previously ruled in favor of Cairn (now Vedanta), prompting legal challenges from the government, which have now been unsuccessful in both Indian and Malaysian courts. Read The Rest at :
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