Govt appoints arbitrator in gas price dispute with Reliance
Retired judge GS Singhvi, who was on the Supreme Court bench that in 2012 ordered cancellation of 100-plus telecom licences in the 2G scam case, is the government's nominee to arbitrate a dispute between Reliance and Oil & Natural Gas Corp (ONGC).
On the other hand Reliance has appointed Bernard Eder, a lawyer and former high court judge in the United Kingdom, to the panel that will decide if the company needed to pay up $1.55 billion for producing gas that belonged to fields operated by state-run ONGC.
Krishna Godavari Basin
Krishna-Godavari Basin spread across more than 50,000 square kilometers. in the Krishna River and Godavari River basins in Andhra Pradesh. The site is known for the D-6 block where Reliance Industries discovered the biggest natural gas reserves in India in 2002.