HC asks for Centre's reply on RIL recall plea
By MYBRANDBOOK
The Delhi High Court has asked for Centre’s reply on a plea by Reliance Industries seeking recall of orders asking it to file an affidavit on its assets.
A notice has been issued to central government by Justice JR Midha on RIL's application and listed the matter for hearing on 6 February.
The application was filed in a pending petition of the government for execution of an arbitral award in its favour.
RIL has sought recall of two previous orders of 22 November and 20 December 2019.
Prior to this, the court has passed the two orders on an application by central government. In that, it had sought directions to RIL and British Gas (BG) not to dispose of their assets. In the application, the government has sought to restrain the two companies from disposing of their assets as they have allegedly failed to pay it over USD 3.85 billion as per an arbitral award in favour of the Centre in relation to the Panna-Mukta and Tapti (PMT) production-sharing contracts.
The high court on 20 December 2019, had directed the two companies to file an affidavit of their assets in accordance with the new format of form 16A under the Civil Procedure Code (CPC) that the high court has drafted in a recent judgement.
On 22 November 2019, the high court had directed the two companies to file their affidavits on assets in form 16A of CPC and had listed the matter for compliance on 20 December.
On 20 December 2019 the court directed the companies to file the affidavits according to the new format of form 16A.
The Centre in its application has alleged that RIL is under a huge group debt and it was in the process of selling or transferring or alienating its assets and creating third-party interest in the movable and immovable properties to cover its liabilities.
It has said in the application that if RIL liquidates its assets and properties, there would be nothing left for the government to execute the arbitral award.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
BHARAT ELECTRONICS LTD.
PDRL - Passenger Drone Research Pvt. Ltd.
LAVA INTERNATIONAL LTD.
VEHERE INTERACTIVE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
ICONS OF INDIA : SANJAY GUPTA
Sanjay Gupta is the Country Head and Vice President of Google India an...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
PARTNER SPEAKERS
PSU
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
