According to the contract terms, companies have the authorization to recoup all the expenses they have borne before sharing the profits with the government in a pre-agreed proportion.
Vedanta wins arbitration against government in USD 1 1 billion cost disallowance case tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.
Vedanta Ltd has won an arbitration against the Indian government s demand for a higher payout from its Rajasthan oil and gas fields. The government had sought additional profit petroleum after disallowing certain costs incurred by Vedanta. The arbitration tribunal upheld Vedanta s contention that the additional payment was not payable as per the terms of the Production Sharing Contract. Vedanta is now reviewing the award s financial impact.
Vedanta Wins Arbitration Against Govt In $1 1 Billion Cost Disallowance Case freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.