RIL wants dispute with ONGC to be resolved through arbitration, doesn’t approve of panel

Reliance Industries (RIL) has challenged oil ministry’s decision to constitute a panel to examine its dispute with Oil and Natural Gas Corp’s (ONGC).

ONGC has alleged that RIL pumped out gas for its fields.

RIL wants the matter to be resolved through arbitration and not through a committee, which is being headed by Justice AP Shah.

So much so that RIL and its partner Niko did not even participate in the proceedings on December 31.

"RIL does not accept in this particular matter that the Government of India can appoint a 'committee', or the government can deal with any issues on the dispute or for the dispute by constituting a committee," RIL stated in a letter.

Meanwhile, RIL’s rejection to the panel will also delay the resolution to the dispute.

Both RIL and ONGC can approach the court again.

(Image: Indiatimes)