New Delhi, 13 February 2014

The Supreme Court of India today stayed Gujarat High Court order on payment of Rs. 10,000 crore royalty dues to Gujarat by ONGC but with rider. The court said ONGC will pay royalty to Gujarat on per-discounted crude price. The court asked ONGC to pay royalty for present and future beginning from February 1.

The Supreme Court asked Gujarat government not to recover crude royalty arrears from ONGC for now. ONGC asked court that they received notice from Assam on crude royalty after Gujarat High Court order. The court issued notice to cecntre and Gujarat on ONGC’s plea.

More details are awaited on this story.