PSU IN MEDIA

Singapore based arbitrator to preside over RIL ONGC dispute

  • by Psu Connect
  • Date: 09-02-17

NEW DELHI: Singapore-based arbitrator Prof Lawrence Boo has been named as the presiding judge of a three- member arbitration panel that will go into the validity of government's demand of $1.55 billion compensation from Reliance Industries for "unfairly" producing ONGC's gas. 
 
Government of India has named former Supreme Court Judge G S Singhvi as its nominee on the three-member arbitration panel, while RIL and its partners BP plc of UK and Canada's Niko Resources have named former UK High Court Judge Bernard Eder to the panel. 
 
"The two arbitrators (appointed by Government and RIL-BP) have agreed on Boo as the third/presiding arbitrator," a senior Oil Ministry official said. "The Arbitral Tribunal is fully constituted now." Economic Times

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