Shardul Amarchand Mangaldas (SAM) successfully represented Vedanta Limited before the Hon’ble High Court of Delhi in securing enforcement of two foreign arbitral awards in a dispute valued at approximately USD 99 million. The Court rejected the Government of India’s objections at the enforcement stage and directed the release of bank guarantees worth approximately ₹450 crore furnished by Vedanta during the pendency of the proceedings.
The dispute arose under a Production Sharing Contract (PSC) executed in 1994 for the exploration and development of the offshore Ravva Oil and Gas Field. Following arbitration proceedings that resulted in two foreign arbitral awards in 2004 and 2016 substantially in Vedanta’s favour, the Delhi High Court upheld the enforceability of the awards, reaffirming the narrow scope of public policy objections under the Arbitration and Conciliation Act, 1996.
The judgment reinforces the finality of foreign arbitral awards in India and provides greater certainty for investors and commercial parties, particularly in sectors such as energy, infrastructure and natural resources, by limiting enforcement-stage challenges based on public policy grounds.
The SAM team representing Vedanta Limited was led by Shruti Sabharwal, Partner, along with Surabhi Lal, Principal Associate, and Rachit Bansal, Associate.
