Canada’s Niko Resources and Indian conglomerate Reliance Industries both released statements confirming that tribunal had ruled 2-1 to completely reject the Indian government’s claims.

Reliance Industries and its partners, Britain’s BP Plc and Canada’s Niko Resources, won the verdict against the government of India, by a majority of two to one.

“All the contentions of the consortium have been upheld by the majority with a finding that the consortium was entitled to produce all gas from its contract area and all claims made by the government of India have been rejected. The consortium is not liable to pay any amount to the government of India,” Reliance said in a statement.

The post India Loses $1.7Billion claim in Offshore Gas Row against Reliance and its partners appeared first on Legal Desire Media and Insights.