RELIANCE NATURAL RESOURCES LTD. vs RELIANCE INDUSTRIES LTD.

The Supreme Court addressed the appeals arising from the Bombay High Court's judgment regarding the Production Sharing Contract (PSC) for Block KG-D6, emphasizing the importance of natural gas resources for the nation. The Court reiterated that the benefits of natural gas must be equitably shared among the populace, as established in Association of Natural Gas & Ors. vs. Union of India (2004) 4 SCC 489. The Court held that the PSC must be executed in accordance with the New Exploration and Licensing Policy, 1999, ensuring that the exploration and production of petroleum resources align with national interests.