The Indian government is the owner of all natural resources and the sole decision maker in the oil and gas sector in terms of pricing and distribution.
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Trilegal
This was the decision reached recently by the Supreme Court in the case of Reliance Natural Resources Ltd (RNRL) v Reliance Industries Ltd (RIL). It will have significant impact on the gas industry in India.
The pertinent issue settled in this case is the extent of the government’s powers to decide the selling price of gas under the production sharing contract (PSC).
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Sitesh Mukherjee is a partner in the Delhi office of Trilegal where Aniket Prasoon is an associate. Trilegal is a full-service law firm with offices in Delhi, Mumbai, Bangalore and Hyderabad. The firm has over 120 lawyers, some of whom have experience with law firms in the US, the UK and Japan.
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