While Mukesh Ambani-led RIL has nominated former Justice Bharucha as its arbitrator, the Centre chose Justice Khare as its nominee.
The government had disallowed as much as $1.005 billion of its investment as KG-D6 output lagged targets.
The government on Thursday decided to join the arbitration initiated by Reliance Industries and its partners over delay in revision of natural gas prices, and named former Supreme Court judge G S Singhvi as its arbitrator.
RIL had challenged the government notice to disallow cost through a Notice of Arbitration on November 23, 2011 saying the signed contract does not provide for output targets and there was no provision for disallowing any part of cost because of production not being in line with output guidance.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances