News Brief | October 2015
SC ends hearings in K-G basin arbitration
The Supreme Court asked Reliance Industries and the Central Government to give their respective list of names for an umpire if their dispute over the pricing of KG-D6 natural gas goes for arbitration.
Solicitor General Ranjit Kumar has strongly opposed arbitration, arguing that pricing is a policy matter in which there can be no arbitration or even court intervention. Both parties had also suggested an arbitrator each; however, a dispute over the third has dragged on for nearly two years.
That petition by the government, alleging collusion to benefit the company by doubling the price of gas, is intertwined with the issues for arbitration and suppression of facts by Reliance.
RIL counsel Harish Salve contended the government had adopted double standards and contested arbitration and at the same time joined the process by selecting its member.