Market Update

The Supreme Court on Friday declined to interfere with the Delhi High Court's hearing in the Union government's appeal seeking to recover about $2.31 billion from Reliance Industries Ltd (RIL) and its partners in the nearly three-decade-old Panna-Mukta and Tapti offshore oilfields dispute. A bench led by Chief Justice Surya Kant was hearing Reliance's challenge to the Delhi High Court's February order, which held that the Centre's appeal to enforce a foreign arbitral award was maintainable. The Supreme Court allowed the high court to continue hearing the appeal on the merits.