Govet slaps Rs 24,500 crore demand notice on Reliance for gains made from ONGC block

The government has slapped a USD 2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries Ltd 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.