The government has slapped a $2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries and its partners, including BP Plc for gains made from producing and selling natural gas that may have migrated from neighbouring block of state-owned ONGC. This follows the Delhi high court's decision on February 14, overturning an international arbitration tribunal ruling that held the duo not responsible for paying any compensation for the gas they produced and sold which had allegedly migrated from adjoining fields.
'If tech giants like Amazon, Google, Apple and Meta enter the IPL broadcasting arena, it could further revolutionize sports media in India.'
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
The Delhi high court has rejected a government challenge to an arbitration panel award that had ruled in favour of Reliance Industries Ltd in a dispute over gas migration from fields operated by state-owned ONGC in the KG basin. The government had slapped a provisional penalty of $1.55 billion on Reliance for "unjust enrichment" from gas migrating from the ONGC-operated KG-D5 block to the private firm's adjoining KG-D6 area. It had sought $175 million in additional profit petroleum from Reliance and its UK partner BP Plc.
It is a very different victory of Maradona that fascinates me even more, notes ad guru Sandeep Goyal.
Ten states including Maharashtra, Chhattisgarh, Karnataka, Uttar Pradesh, Delhi, Madhya Pradesh, Tamil Nadu, Gujarat, Kerala and Punjab have shown a steep rise in the daily COVID-19 cases accounting for 84.21 per cent of the 1,26,789 new infections, the health ministry said on Thursday.
Banning the import of platforms that are already being built in India serves little purpose.
Maharashtra and Kerala alone account for 67.84 per cent of total active cases, it said.
India has surpassed the United States to become the fastest COVID-19 vaccinating country in the world with an average daily rate of 30,93,861 vaccine doses, the Union health ministry said.
As on day 80 of the vaccination drive (April 5), a total 43,00,966 vaccine doses have been given out of which 39,00,505 beneficiaries were vaccinated across 48,095 sessions for 1st dose while 4,00,461 beneficiaries received the 2nd dose, according to the data updated at 7 am.
The choreographer and the spinner are painting the social media blue with the serene skies and sprawling sea.
Six states and UTs have reported no new case in the last 24 hours
Sixteen states -- Maharashtra, Chhattisgarh, Uttar Pradesh, Karnataka, Delhi, Tamil Nadu, Madhya Pradesh, Gujarat, Haryana, Rajasthan, Punjab, Kerala, Telangana, Uttarakhand, Andhra Pradesh and West Bengal -- are displaying an upward trajectory in daily new cases.
Through their T-shirts, Kareena and Malaika dropped a subtle hint about what they're thinking.
The government will now examine the report and decide on how and to what extend should ONGC be compensated for its gas being produced by RIL.
Sources said of the 13,700 crore, Rs 8,300 crore will be for procuring 118 Arjun (Mk-1A).
With no action on the field due to the coronavirus outbreak, our cricketers are keeping their fans entertained on social media during the lockdown.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
RIL has maintained it had followed the production sharing contract (PSC) in letter and spirit and done no wrong and it has drilled all wells within its boundary.
The studies that put Virat Kohli as the top brand now do not have Rohit Sharma in the Top 10. That will change quickly if he delivers the T20 World Cup next year or the ODI championship the year after.
Index of Industrial Production is expected to have grown by 1-2 per cent in April, D&B said in a research note, adding that the pace of improvement in consumption and investment demand is likely to take place as per the measures taken by the new government.
Before they take the field for the World Test Championship final on Friday, June 18, Rajneesh Gupta takes a look at India-New Zealand Test encounters in the new century.
The 'Dun & Bradstreet - Polaris Financial Technology Banking Awards 2012' seeks to recognise the growth and resilience of the Indian banking industry.
Sushil Kumar is set to be dropped from the Wrestling Federation of India's annual contracts list.
The rupee is expected to remain under pressure in the near term, given the strengthening of the dollar against major global currencies and widening of the trade deficit.
Finnish firm Nokia, which is selling its devices and services business to Microsoft, will pay the software giant 37.9 million euros (about $51.2 million) if the handset maker's shareholders oppose the deal.
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
The stage for negotiations to settle the Krishna-Godavari basin dispute is long over, says a government official
According to the global research firm, though a sharp fall in WPI inflation and negative growth in Industrial production is exerting pressure on the RBI to cut rates, the quantum of rate cut will be more important than the timing.
Fair trade watchdog CCI has approved Microsoft's proposed $7.2 billion acquisition of Nokia's mobile devices business, citing that the deal would not have adverse impact on competition in the Indian market.
India is likely to clock a GDP growth of 5.5 per cent during the current financial year provided there is normal monsoon and stable government at the centre, says a D&B report.
It is possible to apply the Duckworth-Lewis method during the first innings as well to predict the final total for the innings after each over.
RIL had drawn 58.67 bcm of gas from four wells.
D&N cites positive changes in momentum in certain segments of economy, but says some areas of concern remain
The Department of Personnel and Training (DoPT) has decided to amend the All India Services (discipline and appeal) Rules, 1969, applicable to IAS, IPS and IFS officers, in this regard.
Contract does not provide for retrospective penalty for 'such' acts
Part-time spinners Ish Sodhi and Martin Guptill bagged three wickets each as Zimbabwe folded on the final day of the second test to hand New Zealand a comprehensive 254-run victory on Wednesday. New Zealand won the two-match series 2-0 after bowling Zimbabwe out for 132 in their second innings, though the home side were also hampered by poor umpiring decisions.
The committee said whatever benefit RIL received in terms of the migrated gas is liable to be returned to the government.
