New Delhi, Nov 13 (IANS): The Supreme Court Wednesday said it would hear the plea seeking the stay of arbitration between government and Reliance Industries Limited on the interpretation of the Production Sharing Contract (PSC).

The plea also includes recovery of cost by RIL for developing the eastern offshore KG-D6 gas fields.

The apex court bench headed by Chief Justice P. Sathasivam, however, said the court would hear the plea for the stay of arbitration along with the PIL by the Communist Party Lok Sabha member Gurudas Dasgupta, and one by NGO Common Cause.

"We can hear the case only in January or February. We would find out about the other matter and both matters would come up for hearing after the holidays," Chief Justice. Sathasivam said as senior counsel Colin Gonsalves mentioned the matter in the afternoon.

Gonsalves appeared for CPI parliamentarian Dasgupta, who has challenged the proposed hike in gas prices that would be effective from April 2014. He has also urged the court to direct the government to pay RIL in Indian rupees, instead of US dollars.

Gonsalves made the mention after Justice S.S. Nijjar Dec 11, 2013, declined to entertain their plea not to proceed with the hearing on the appointment of a third arbitrator until the matter challenging the PSC and proposed price hike was decided.

Justice Nijjar, while declining to entertain Gonsalves and Prashant Bhushan's plea, had said that the two were distinct matters, and the matter before him could not be put on hold merely because their pleas were pending hearing.

Directing the listing of the matter for Jan 7, 2014, Justice Nijjar had said that: "This proceeding can't be stayed. But once arbitration is stayed, then it will go."

The dispute arose after Director General of Hydrocarbons (DGH) said that there was a shortfall in the production of gas in KG-D6 fields as the operator RIL drilled only 18 out of 31 wells.