India Must Pay $477M Award In Offshore Oil Fight

Law360 (September 16, 2020, 10:25 PM EDT) -- India's highest court on Wednesday denied New Delhi's bid to refuse enforcement of a $477 million arbitral award issued to a London-based natural resources company stemming from the development of an offshore oil field, rejecting arguments that the award violated public policy.

The Supreme Court of India concluded that the government hadn't shown the Malaysian tribunal that issued the award in 2011 violated Indian public policy when it misinterpreted a provision in the underlying production sharing contract inked by predecessors of Vedanta Resources Ltd., which set a cap on reimbursements for development costs.

The tribunal had rejected the government's attempt to...

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