RIL receives $2.81 billion demand notice from govt over gas dispute

Quick Summary:

The May 2023 order had dismissed the Government of India's appeal challenging a previous arbitral award.

The MHI letter, RIL said, refers to levying liquidated damages at the rate of 0.1 per cent of the performance security (Rs 50 crore) for each day of delay from January 1, 2025.

RIL on Tuesday noted that the company is “legally advised that the division bench judgment and this provisional demand are unsustainable.

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Category: BusinessFinance

Markets: India

Topics: Mukesh Ambani RIL updates Reliance Industries gas dispute RIL battery project penalty RIL oil ministry notice Reliance new energy business KG-D6 gas dispute RIL $2.81 billion demand RIL BP NIKO PSC dispute RIL stock exchange announcement Ministry of Heavy Industries liquidated damages

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Article Type: News Report

Published On: 2025-03-04 @ 17:59:10 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 26662463

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