Arun Kumar Agrawal vs Union Of India & Ors

The Supreme Court addressed the legality of the Government of India's approval for Cairn Energy's acquisition of a majority stake in Cairn India Limited, emphasizing the Right of First Refusal (RoFR) under the Production Sharing Contract (PSC). The Court held that ONGC's failure to exercise its pre-emption rights constituted a breach of statutory obligations, thereby necessitating an investigation by the CBI. The judgment underscored the importance of adhering to contractual rights in public sector undertakings, particularly under the provisions of the PSC.