FOUNDATION MAGAZINE FINANCIAL ADVICE STOCKLETTERS PORTFOLIO PMS BOOKS
BUY
Bombay HC Orders Notice for CBI Probe into RIL’s Alleged US$1.55bn Natural Gas Heist from ONGC: Reports
Moneylife Digital Team 14 November 2025
Economy & Nation
The Bombay High Court (HC) has issued a notice in a petition that seeks a full-fledged criminal investigation by the central bureau of investigation (CBI) into alleged gas theft by Reliance Industries Ltd (RIL) and its directors, including chairman Mukesh Ambani. The claim revolves around the extraction of natural gas worth more than US$1.55bn (billion) from the adjoining fields of Oil and Natural Gas Corporation (ONGC) in the Krishna–Godavari (KG) basin, off the coast of Andhra Pradesh.
 
A division bench of justice AS Gadkari and justice Ranjitsinha Raja Bhonsale directed CBI and the Union government to respond to the petition by 18 November 2025. The petitioner, Jitendra P Maru, has asked that a first information report (FIR) be registered against RIL and its directors for alleged offences of theft, dishonest misappropriation and criminal breach of trust. 
 
The petition contends that, between 2004 and 2013-14, RIL drilled deep-sea wells in its KG-D6 block and then extended wells 'sideways' into adjacent ONGC blocks, thereby siphoning off natural gas belonging to ONGC. The petition describes this as a 'massive organised fraud'. ONGC is said to have discovered this alleged activity in 2013 and reported it to government authorities. 
 
According to media reports, RIL has disputed these claims, stating that the gas was 'migratory' — that is, natural migration of gas from one reservoir into another — and, therefore, within its legal rights to extract. Nevertheless, the petition relies heavily on an independent report by De Golyer & MacNaughton (D&M) and a government-appointed one-man committee under justice AP Shah which reportedly found that RIL did tap ONGC’s reserves without authorisation. The committee put the value of the extraction at US$1.55bn and interest at another US$174.9mn (million). 
 
The roots of the dispute trace back to April 2000, when a production-sharing contract (PSC) was signed between RIL (with consortium partners) and the Union government for gas extraction in the KG basin. The dispute intensified in 2013 when ONGC claimed lateral continuity of gas reservoirs with RIL’s block. 
 
In July 2018, an international arbitration tribunal issued an award largely in favour of RIL. However, in February 2025, the Delhi HC set aside that award, finding it to be 'against the public policy of India'. The petition now leverages this development to argue that the matter is not simply civil or arbitral, but may entail criminal liability. (Read: Setback for Reliance Industries as Delhi HC Sets Aside Award in US$1.7bn KG Basin Gas Dispute)
 
The Bombay HC’s notice to CBI and the Union government does not yet amount to an order to register a criminal case. It is a procedural step, allowing the respondents to reply before the Court decides whether to direct a full investigation. Legal experts view this as a significant step — if the Court orders a CBI probe, it could mark a shift in how disputes over natural-resource contracts are treated: from commercial/ arbitral arenas into the domain of criminal accountability. 
 
The next hearing is scheduled for 18 November 2025, when CBI and the Union government are expected to provide their responses. The Court will then determine whether to order the registration of an FIR, seize relevant documents (contracts, drilling data, committee reports) and monitor the investigation. The petitioner has asked the Court for full supervision of the probe to ensure impartiality and thoroughness. 
 
With the Bombay HC signalling its intention to scrutinise the long-running dispute between ONGC and RIL under a criminal lens, Indian corporates and regulators alike are watching closely. The case could become a landmark in the governance of India’s offshore resources and corporate liability, from arbitration to accountability.
 
Comments
jrdr45
4 weeks ago
Top level corruption. ONGC is a Public Sector. How can any Government allow a Private Sector to exploit ONGC under the Union Government of India? Ridiculous.
Reply
Shibu
4 weeks ago
Chowkidars will do everything possible to save their Malik?
Reply
krishnan.ayyar
4 weeks ago
nobody expects anything to come out of this.
Reply
Economy & Nation
When Hinduja Boarded the Leyland Bus
Ranganathan V, 14 November 2025
In 1983, Swraj Paul, in the status of a non-resident Indian (NRI), wished to take over a couple of Indian companies whose stock prices were underperforming, only to be deterred by the hurdles posed by the system and finally gave...
Economy & Nation
India's Cement Capacity Addition To See 75% Jump over FY26-28: CRISIL
Moneylife Digital Team 12 November 2025
India’s cement industry is set for one of its biggest expansion phases yet, with total grinding capacity expected to rise by 160–170mn (million) tonnes (MT) between financial years (FYs)25-26 and 27-28, a sharp 75% jump compared with...
Economy & Nation
Regulators Unlikely To Accept Vedanta’s Token Compliance To Justify Hundreds of Millions in Overseas Payments: Viceroy Report
Moneylife Digital Team 10 November 2025
The June 2023 summons issued by the directorate of enforcement (ED) Vedanta Ltd’s chief financial officer (CFO) confirms that the company has been under formal investigation over large overseas payments made to its London-based...
Economy & Nation
Viceroy Slams Vedanta’s KCM IPO as 'Window Dressing' amid Mounting Debt and Regulatory Heat
Moneylife Digital Team 07 November 2025
Viceroy Research has launched a fresh attack on Vedanta Resources Ltd (VRL), accusing the metals-to-mining conglomerate of using its planned initial public offering (IPO) of Konkola Copper Mines (KCM) in Zambia as a 'window dressing'...
ICICI Pru
ICICIBank Coral credit cr
ICICI Prudential IPO
  • EDITORS'
    PICKS
  • MOST
    POPULAR
  • MOST
    READ
Free Helpline
Legal Credit
Feedback
Buy Now!

Absolute Power

Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam

View Options

The Scam: Now in it's 12th Printing

29 Years Of The Scam: The Perennial Bestseller, reads like a Thriller!
#Scam92: Read the actual story.

Buy Now Gift Know More

Moneylife Online Magazine

Fiercely independent and pro-consumer information on personal finance.

1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.

Buy Now Gift Know More

Monthly Digital Access

Fiercely independent and pro-consumer information on personal finance.

30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.

Buy Now Know More

Full Archive access

Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )

Buy Now

Stockletters in 5 Flavours

Outstanding research that beats mutual funds year after year

Buy Now Know More

MAS: Complete Online Financial Advisory

(Includes Moneylife Online Magazine)

Buy Now Know More
We are listening!
Reset
Success!

To continue

Please

or

With