Full Coverage: Ambani vs Ambani
Holding that natural gas is a “national asset”, the Supreme Court today gave control of gas pricing and supply to the government and backed...
RNRL opposed the Government stand in the SC on the gas row with the Mukesh Ambani's RIL, accusing it of deliberately causing 'confusion' and hurting the interests of public sector NTPC. Govt opened its arguments in the high-voltage gas row between the Ambani brothers in the Supreme Court. Mukesh Ambani firm RIL told the SC that the family MoU was irrelevant for arriving at a suitable arrangement for the gas supply. The CBI has accused V K Sibal of colluding with private parties during his term as oil regulator and sought permission to investigate. RIL and Anil Ambani's RNRL joined hands to oppose the plea of a shareholder in both the companies to be made party in their ongoing dispute in the Supreme Court over the gas price to be supplied from the KG basin. Weak refining margins will dent quarterly results at Reliance Industries. Two of the top corporate houses headed by estranged industrialist brothers Mukesh and Anil Ambani are set for a showdown in the SC on Tuesday. Mukesh Ambani-led Reliance Industry questioned the sincerity of Anil Ambani's peace offer. Oil regulator V K Sibal has alleged that ADAG had orchestrated a vilification campaign against him to settle personal scores with Mukesh Ambani-led RIL. DGH launched an ad campaign saying the exchequer would get USD 16.57 billion compared to USD 9.5 billion for the company. An Anil Ambani group company has asked the oil ministry to stop RIL from charging marketing margin on gas. Accusing Anil Ambani group firm Reliance Infra of faulting the contractual notice period for maintenance shutdown at its power plant, Mukesh-led RIL has decided to give gas till Monday despite the payment default. RIL said that the fractional entitlements to shareholders of Reliance Petroleum will be consolidated. The gas dispute between Ambani brothers is hurting global investors' confidence in India. The high-voltage battle between the Ambani siblings -- Mukesh and Anil -- has put under stress the legacy of their father Dhirubhai Ambani. NTPC said it talking to Mukesh Ambani led company to lift fuel alloted by the Government. The govt filed an application in SC saying it wishes to clarify that its prayer was not for declaring any private family agreement null and void. Murli Deora has sought reconstitution of an empowered GoM to decide on allocation of gas. RNRL said RIL's communication to Govt is an evidence that there were no takers for gas at high prices.