The Delhi High Court on Friday put aside a single decide order directing the Centre to increase until 2030 its manufacturing sharing contract (PSC) with Vedanta Ltd and ONGC to provide oil from the Barmer oil area in Rajasthan.
A bench of Chief Justice D N Patel and Justice Jyoti Singh allowed the central authorities’s attraction in opposition to the only decide’s order of May 31, 2018 order in favour of Vedanta, previously Cairn India.
The detailed judgement is but to be uploaded on the excessive court docket’s web site.
The central authorities had claimed that the PSC with Vedanta will fall underneath the brand new coverage for such contracts. The competition was opposed by the corporate.
The single decide had held that Vedanta was entitled to extension of its contract, which was to run out in 2020, for an additional interval of 10 years on the identical phrases and agreements when it was first entered into in 1995.
While the federal government’s attraction was pending, the PSC was being prolonged every so often for temporary durations since May 2020.
The May 31, 2018 order had come on Vedanta’s plea for extension of the PSC which the corporate and the Oil and Natural Gas Corporation (ONGC) have with the federal government to extract oil from the Barmer block in Rajasthan.
