Reliance Industries Limited (RIL) and its foreign partners proposed mediation to the Indian government to resolve a long-standing gas migration dispute in the Krishna-Godavari (KG) basin. The company notified the Supreme Court of its intent to seek a settlement on May 20, 2026. The government previously claimed $1.55 billion from RIL and its partners in the case.
The Supreme Court declined to stay final hearings despite the move toward mediation. The court will proceed with its scheduled hearings while the parties attempt to negotiate a resolution.
RIL shares rallied over 2.5% during the day and were among the most actively traded by value. The stock continues to trade near its 52-week low amid a subdued broader market. The news follows reports that RIL is negotiating with suppliers for its renewable energy battery business.