InvestorQ : What is the legal case that Vedanta won against the government of India?
Aditi Sharma made post

What is the legal case that Vedanta won against the government of India?

Answer
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Mahima Roy answered.
2 weeks ago


The Vedanta case pertains to an outstanding that the compensation that the government had to pay to a particular oil field of Cairn that came to Vedanta as part of the acquisition of the oil extraction business of Cairn India.

On Wednesday, the Honourable Supreme Court ruled that Vedanta was entitled to recover the higher level of compensation of $499 million for developing oil and gas fields off the coast of Andhra Pradesh. The Indian government had only approved $198 million.

Post the government offer to pay only $198 million, Vedanta got a court order for a higher amount of $499 million from a Malaysian court. However, at that time the Indian government had tried to repudiate saying it was contravention of Indian laws.

That stands clarified by the Supreme Court now. It has ruled that the Malaysian Court verdict can be applied in India as long as it does not contravene public policy and the order is not contrary to the basic notions of justice and fairness under the Indian law.