SC Rules in Vedanta Favour in 2011 Malaysian Arbitral Award.
The SC rejected the Central government petition challenging the
enforcement of the 2011 Malaysian arbitral award passed in favour of
Vedanta in relation to the Ravva oil and gas fields. It also held that the
enforcement of this award will not go against the public policy of India.
The court dismissed the plea filed by the Union Ministry of Petroleum and
Natural Gas regarding enforcement of the arbitral award.
The Centre had moved the SC challenging the decision of the Delhi HC
which allowed Vedanta to implement the foreign award of 2011, which
allowed the company to seek a larger sum of recovery instead of the
amount was capped by the Indian government.
The court said, “ We conclude that the enforcement of the foreign award
does not contravene the public policy of India, or that is contrary to basic
notions of justice. We affirm the judgement of the Delhi HC dated