Vedanta Oil & Gas faces ONGC enforcement petition

Vedanta Oil and Gas Ltd has received an enforcement petition from Oil and Natural Gas Corporation Limited (ONGC) seeking to enforce an arbitral award dated July 31, 2023. The Delhi High Court has issued a notice to Vedanta Oil and Gas, requiring it to file a reply. The next hearing is scheduled for September 11, 2026. The arbitral award pertains to approximately USD 37 million, which has already been provided for in the company's books. Vedanta Oil and Gas is evaluating the matter and intends to pursue legal remedies. No interim adverse order has been passed against the company.