INSUBCONTINENT EXCLUSIVE:
In a major setback for the government, the Supreme Court on Wednesday upheld a foreign arbitration award in favour of Vadanta and Videocon
dismissing the government's appeal against the foreign arbitration award.The Supreme Court said the Malaysian court rightly examined the
Ravva arbitration award, which doesn't offend public policy of India, as it is a subsequent event
interfere with the arbitral award in the production-sharing contract (PSC) for Ravva oil fields in the Krishna Godavari basin
Cairn India (now Vedanta) and Videocon were allowed to recover $198 million as per the contract.In July 2014, the Malaysian Court of Appeals
had upheld the arbitral award allowing additional recoveries to Vedanta.The dispute centres around the production-sharing contract between
the companies and the government over exploration of the Ravva oil fields between 2000 and 2007.The Petroleum Ministry moved the top court
