SC sets hearing in RIL-RNRL dispute for Sept 1

Reuters
Posted: Monday, Jul 20, 2009 at 1259 hrs IST
Updated: Monday, Jul 20, 2009 at 1259 hrs IST

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New Delhi: The Supreme Court on Monday scheduled its next hearing in the dispute between Reliance Industries and Reliance Natural Resources over a gas supply agreement for Sept. 1.

Top Indian conglomerate Reliance Industries, headed by billionaire Mukesh Ambani, and Reliance Natural, led by estranged brother Anil, have been fighting over terms of a gas-supply agreement struck when the Reliance empire was split in 2005.

The government made a petition over the weekend to intervene in the case, arguing that the gas is its property and that the private agreement between the Ambanis over the gas is not valid.

The court on Monday said it would club all petitions and applications in the case together, according to Ram Jethmalani, a lawyer for Reliance Natural.

"The court said it wants to hear the case with three judges so it set Sept. 1 as the next date. There were no observations, no directions," Jethmalani said after the hearing.

The Bombay High Court ruled last month that Reliance Industries should supply gas to Reliance Natural at $2.34 per million metric British thermal unit (mmBtu) -- nearly half the $4.20 price in an interim court order in January.

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Comments

» Reliance

Posted by Mayur on 2009-10-23 16:45:11.224143+05:30
Reliance is a termite that is eating away the very fabric of this nation.If I start listing their misdeeds,it will take me a whole day and still I wont finish.They have bribed and pocketed everyone in the Govt.One only has to read the book 'Polyester prince' to understand what Reliance is.Why do you think Mukesh always avoids direct eye contact with the camera?He is guilty as hell and he knows it.In another intresting development...hardy gas,a 10% stake holder in the kg basin along with reliance,announced today that it will stop exploring gas in the D9 block (in kg basin)as it encountered poor reservoir sands in the block.As Ive always maintained,Reliance has'nt found the gas that it claims it has and even if it has,it doesnt have the technology to bring it out of the deep waters in KG basin.Its a recipe for the scam of the century.Mukesh is siphoning off as much as he can before the whole thing collapses on his head.I love it.

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» NATURAL GAS

Posted by KUMAR on 2009-07-20 16:32:04.843759+05:30
It is a tragedy that even well read and informed people like ranjan get misled by government tactics.As a informed person I wish to state that this just a hogwash to protect the Mukesh's Interest.Had the court directed the price to be 4.2 instead of 2.3 this govt.would not have entered in this dispute giving entirely ulta affidavit.who fixed the price at 4.2.the inter ministerial committee set up by UPA and headed by mr. Mukharjee.Why not pay the same price to the gas produced by Public sector companies.as fixed for RIL.This is scam beyond anybody'imagination.but since everybody from top to bottom is involved nobody is making any hue and cry.Indians deservr this way only.

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» RIL and RNRL dispute

Posted by ranjan on 2009-07-20 15:31:26.186383+05:30
It is a cse of the Government Production sharing Contract Vs. Mother's Production Sharing Contract> It can happen only in India where two powerful brothers can usurp and divide natural resources as vital as natural gas to their private benefits. The central government should have woken much earlier to stop this nefarious design of the two brothers to corner and monopolise gas. At last the Government has woken up out of its slumber or possibly out of corporate lobby culture. It is better to be late than never

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SC sets hearing in RIL-RNRL dispute for Sept 1

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