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The resolution professional of Videocon Industries Ltd. has moved the Supreme Court seeking a direction to the government to return $353.74 million, which was diverted to it by a consortium including Videocon over alleged dues arising out of a production sharing contract. Further, the resolution professional also sought lifting of a stay order, which had essentially allowed the government to receive 100% of sale proceeds of oil and gas invoices from the company towards the alleged provisional unpaid share of profit petroleum dues.
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