Oil ministry picks arbitrator for Ravva disputes
Shastri Bhawan has appointed retired Supreme Court judge G.
T Nanavati as its choice of arbitrator in its dispute(s) with the Ravva consortium. Two sets of disputes are ongoing between the government and the Ravva consortium.
Videocon Petroleum raised one dispute early August over interest payments on profit petroleum while Cairn Energy and Marubeni mid-August jointly raised a dispute over calculation of post tax rate of return. Retired Delhi High Court judge J.
K Mehra is Videocon's choice of arbitrator while M.J Clarke is Cairn and Marubeni's choice of arbitrator.
Shastri Bhawan wants one arbitrator for both sets of disputes because, "there are certain common elements." It has written to Videocon and Cairn-Marubeni to combine both arbitrations. "We have also suggested that the venue of the arbitration is Delhi instead of Kuala Lumpur or London."