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Oil & gas arbitration awards-I: Government may contradict itself over Panna-Mukta Tapti award
Jun 08: The government may end up confronting its own position on on foreign arbitration awards when it comes to enforcing the multi-billion dollar ruling on the Panna-Mukta and Tapti (PMT) fields in its favour
8The question under review here will be whether Indian court will have the jurisdiction to take on a challenge to a foreign arbitration award.
8A foreign oil & gas arbitration award was challenged by the petroleum ministry and despite having lost the appeal in the High Court it has moved the Supreme Court for redressal. A two-member Supreme Court bench could not decide on this sensitive issue despite 19 hearings and the matter has not been sent to the Chief Justice for reference to a larger bench.
8In effect, therefore, RIL and Shell can throw a spanner in the enforcement of the award by challenging it in an Indian court, citing that the Supreme Court is still to address the issue on whether such an award can be litigated in an Indian court
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