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Reliance tears into govt affidavit, says no final arbitration award due

Updated : December 23, 2019 08:53 AM IST

The affidavit came in response to the government moving the Delhi High Court seeking to block Reliance selling 20 percent stake in its oil and chemical business to Saudi Aramco for $15 billion, in view of pending dues of $3.5 billion in Panna-Mukta and Tapti oil and gas fields.
In a counter affidavit, Reliance said it was a "falsehood" to say that the arbitration tribunal had passed an award requiring the company and its partners to pay $3.5 billion to the government.
The government, it said, has calculated on its own volition the revised figure of its share of profit from oil and gas production allegedly due by extrapolating the purported finds.

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