Oil Ministry fines Reliance Ind $1 billion
‘Fresh arbitration notice needed if it were to contest the fine'
After slapping a hefty penalty of over $1 billion on Reliance Industries for failing to meet gas output targets, the Oil Ministry said the company's five-month-old arbitration notice on the issue was not valid and a fresh notice was required if it were to contest the fine.
Publication Date:
05/05/2012