- विज्ञापन -
New Delhi: After recent favor by Delhi High court to Oil and Natural Gas Company in Rs 25000 crore dispute with Reliance Industries Limited (RIL) over alleged gas migration from ONGC’s block to RIL’s Krishna-Godavari D6 (KG-D6) basin the company have not made any disclosure of this development with its shareholders left them in the dark.
The ruling, delivered earlier this month by Delhi High court, marks a major legal victory for ONGC. However the companies silence who raised multiple question why this was not made public by the company.
The dispute dates back to 2013 when ONGC accused RIL of extracting gas that had migrated from its adjacent block. A government-appointed panel had validated ONGC’s claims, leading to an arbitration process. The Delhi High Court upheld ONGC’s position, directing RIL to compensate for the extracted gas.
Despite the ruling’s financial significance, ONGC did not immediately disclose the development to shareholders, raising concerns about transparency. Under SEBI regulations, publicly traded companies must disclose price-sensitive information, including major legal victories, which could impact stock valuations.
ONGC has yet to comment on why it delayed making the ruling public. Analysts suggest that timely disclosure could have influenced investor sentiment and stock performance. Market experts argue that the company’s failure to inform stakeholders may attract regulatory scrutiny.
