In doing so, Justice Anup Jairam Bhambhani 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.
"This court is not persuaded to hold that the conclusions drawn by the arbitral tribunal are such that no reasonable person would reach. Suffice to say that the view taken by the arbitral tribunal is most certainly a 'possible view', which calls for no interference," the order read.
The HC observed that when an arbitral award is challenged, it may interfere only if the award is induced or affected by fraud or is in "contravention of the fundamental policy of law, or if it is in conflict with the most basic notions of morality and justice".
This story is from the May 10, 2023 edition of Business Standard.
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This story is from the May 10, 2023 edition of Business Standard.
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