Reliance Industries Ltd (RIL), along with partners British Petroleum (BP) and Niko Resources, has approached the Supreme Court of India challenging a Delhi High Court ruling that set aside an arbitral award worth approximately $1.72 billion (around ₹12,800 crore) in their favor. The dispute arises from a gas production contract involving Oil and Natural Gas Corporation (ONGC). The Delhi High Court had invalidated the arbitration award in February 2025 citing 'patent illegality.' RIL and its partners are seeking restoration of the arbitration award. This legal development has coincided with a notable decline in the Indian stock market, with the Sensex plunging 800 points amid investor concerns. Separately, Larsen & Toubro (L&T) has also moved the Supreme Court against a Bombay High Court decision related to Rs 14,000 crore infrastructure projects by the Mumbai Metropolitan Region Development Authority (MMRDA).