Vedanta wins arbitration against govt in $1.1 billion cost disallowance case

Vedanta Ltd has won an arbitration against the Indian government's demand for a higher payout from its Rajasthan oil and gas fields. The government had sought additional profit petroleum after disallowing certain costs incurred by Vedanta. The arbitration tribunal upheld Vedanta's contention that the additional payment was not payable as per the terms of the Production Sharing Contract. Vedanta is now reviewing the award's financial impact.

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