Supreme Court – Indian court has no jurisdiction in international arbitration

The Supreme Court last week set aside a Delhi high court judgment holding that the high court had no power to entertain an international arbitration petition in the appeal case, Videocon Industries Ltd vs Union of India. A production sharing contract was entered into between the government and a consortium of four companies consisting of ONGC, Videocon, Cairn Energy of UK and Ravva Oil of Singapore. The contract was for exploration and mining of hydro carbon resources in the territorial waters and exclusive economic zones of India. Later, disputes arose between the parties over cost recoveries...