Govt pushes for dispute resolution panel to resolve oil, gas wrangles

With an overhang of disputes choking investments in the oil and gas sector, the government is pushing for contractual wrangles being sent to an expert committee for time-bound resolution but the move has found few takers due to inherent conflict of interest in such a process, sources said. The government had in December last year constituted a 'Committee of External Eminent Persons/Experts' comprising former oil secretary G C Chaturvedi, former Oil India Ltd head Bikash C Bora and Hindalco Industries Ltd Managing Director Satish Pai, for dispute resolution without having to resort to the tardy judicial process. But no major dispute has been referred to the panel so far, two sources with direct knowledge of the development said.

With an overhang of disputes choking investments in the oil and gas sector, the government is pushing for contractual wrangles being sent to an expert committee for time-bound resolution but the move has found few takers due to inherent conflict of interest in such a process, sources said. The government had in December last year constituted a 'Committee of External Eminent Persons/Experts' comprising former oil secretary G C Chaturvedi, former Oil India Ltd head Bikash C Bora and Hindalco Industries Ltd Managing Director Satish Pai, for dispute resolution without having to resort to the tardy judicial process. But no major dispute has been referred to the panel so far, two sources with direct knowledge of the development said. November 15, 2020 at 10:21AM https://ift.tt/2IvSDAS