Delhi High Court Halts Government Order to Transfer Vedanta's Offshore Oil Block to ONGC
1 day agoBusiness
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4 SourcesNew Delhi, India
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Delhi High Court Halts Government Order to Transfer Vedanta's Offshore Oil Block to ONGC

The Delhi High Court has ordered a status quo on the Union government's decision to reject Vedanta's Production Sharing Contract (PSC) extension for the CB-OS 2 offshore oil block and to hand it over to ONGC. The court granted interim relief to Vedanta, stating that the existing situation must continue until the matter is finally decided. Vedanta had argued that the government's rejection was arbitrary and denied them a fair hearing, while the government raised objections about the maintainability of Vedanta's petition.

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