Ambani V/S Indian Government !

Описание: Recently there were media reports saying that the Indian government was demanding a huge sum — around $30 billion from Reliance Industries and its partner BP in a long-running legal dispute over gas production from the KG-D6 offshore gas block. These reports spread quickly because such a large number grabbed attention.

However, Reliance Industries officially clarified that this $30 billion figure is not correct. The company released a statement saying there is no claim of $30 billion against it or BP in this case. Instead, the government’s actual claim relates to about $247 million, a much smaller amount. Reliance said this $247 million figure has already been disclosed in its audited financial statements and that the media reports claiming $30 billion were inaccurate.

The dispute itself is part of a long arbitration process between the government and the Reliance-BP group over how much gas was produced from the KG-D6 fields and related contractual issues.

The matter is still before a tribunal, and a final decision is expected next year. Reliance also stressed that the situation is still in legal proceedings and will be resolved through the courts.

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