Centre Challenges Vedanta's $99 Million Ravva Oilfield Award
The Union government has taken its challenge to the Supreme Court against a Delhi High Court order. The order allowed enforcement of foreign arbitration awards linked to a $99 million revenue-sharing dispute over the Krishna-Godavari basin oilfield, known as Ravva. The case has been running for a long time.
Context
Context: Arbitration is a private way to settle business disputes outside regular courts, and foreign awards are enforced through Indian courts. Vedanta is a large mining and metals group, and Ravva is an oil and gas field off the east coast.
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