An international arbitration panel has issued a verdict in favour of Reliance Industries and its partners and said the consortium was entitled to produce all gas from its contract area, quashing the government's claims that the oil and gas major was siphoning gas from deposits outside its area.

Reliance Industries and its partners, Britain’s BP Plc and Canada’s Niko Resources, won the verdict against the government of India, by a majority of two to one.

“All the contentions of the consortium have been upheld by the majority with a finding that the consortium was entitled to produce all gas from its contract area and all claims made by the government of India have been rejected. The consortium is not liable to pay any amount to the government of India,” Reliance said in a statement.

The tribunal has also asked the Centre to pay Rs 56.44 crore ($ 8.3 million) to Reliance and its partners.

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First Published:Jul 31, 2018 10:49 PM IST