RNRL to place Ambani MoU in court today

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Mumbai, Oct 7: Reliance Natural Resources Ltd (RNRL) counsel Ram Jethmalani on Tuesday told the Bombay High Court that the memorandum of understanding (MoU) signed by the Ambani brothers before the demerger of the Reliance Group in 2006 is kept ready in all respects and will be filed in the court on Wednesday. But Reliance Industries (RIL) counsel Harish Salve, on the other hand, initially pleaded before the divisional bench of Justice KK Tated and JN Patel at the High Court not to make the MoU public. The court is hearing the case related to the dispute over the gas supply agreement between the Mukesh Ambani-led RIL and Anil Ambani’s RNRL. The court will resume the hearing on the case on Wednesday.

Salve in his submission, stated that any order on the court’s power to call for production of MoU would take the matter to the Supreme Court and would cause a further delay in the case which was not in anybody’s interest.

To Salve’s submission, Justice Patel responded that the court would decide whether any such order was required or not irrespective of whether somebody would approach the Supreme Court and called upon on Ram Jethmalani, RNRL’s counsel to make submissions on the issue. Jethmalani, in his argument told the court that the document will be produced by him in the court since it will enable the appellate authority to do justice to the case. “It is necessary to produce the document before the court. It will enable to court to pronounce the judgement,” said Jethmalani. He also said that the oppositions’ argument to not produce the document in the court is malicious and does not show any honesty to the court of justice. Jethmalani further said that the MoU was signed between the members of the family and the promoters of the Reliance Group. He said that the affidavit with the portions of the MoU is kept ready in all respects and will be filed in the court on Wednesday.