Reliance Industries Limited (RIL) and two other foreign firms on Wednesday told the Supreme Court that they would write to the Centre for mediation in the Krishna-Godavari basin gas migration dispute.
The matter was mentioned before a bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi.
"All the petitioners will be writing to the Government of India today seeking mediation. We are submitting that let us attempt mediation," the counsel appearing for the firms told the apex court.
The counsel urged the bench that hearing in the case may be stopped till the mediation outcome.
However, Attorney General R Venkataramani, appearing for the Centre, requested the court to continue with the hearing in the case listed today.
"If, in the meantime, anything will happen, we will inform the court," the top law officer said.
The bench declined to stop the hearing and said the parties may inform it about the outcome of mediation.
"If you come with a successful mediation, wonderful.We will dispose of the matter then," the bench said.
On May 19, the top court commenced final hearing on appeals of RIL and two other foreign firms challenging a Delhi High Court verdict that set aside an arbitral award in their favour in the Krishna-Godavari Basin gas migration dispute with the Centre.
RIL, BP Exploration (Alpha) Limited, and Niko (NECO) Limited have assailed the February 14, 2025, order of the high court setting aside an order of the single judge bench which had upheld the arbitral award in favour of Reliance Industries and its two partners.
In July 2018, an international arbitration tribunal rejected the Indian government's claim of USD 1.55 billion against RIL and its partners for allegedly siphoning gas from deposits they had no right to exploit.
The three-member arbitral panel by a majority of 2-1 had also awarded USD 8.3 million compensation to the three partners, Reliance had said in a regulatory filing.
(With inputs from PTI)