The ?family agreement? or the memorandum of understanding (MoU) between the Ambani brothers dominated the Reliance Industries (RIL) versus Reliance Natural Resources (RNRL) case in the Bombay High Court on Monday. However, the court was adjourned at 12 pm, following the death of a High Court advocate. The hearing will resume on Tuesday.
Ram Jethmalani, counsel for Anil Ambani?s Reliance Natural Resources Ltd (RNRL) on Monday continued arguing that the MoU between the Ambani brothers is very much a reality. He said that Anil Ambani should be given the right over 28 mmscmd of gas from KG-D6 for sourcing gas. Division bench of Justices JN Patel and KK Tated were hearing a case on the dispute between Anil Ambani owned-RNRL and Mukesh owned-RIL over the supply of gas from the K-G Basin.
The court had earlier restrained RIL from entering into gas sales contracts with parties other than RNRL and state-run NTPC, but had agreed with the government set price of $4.20 per million British thermal unit of KG-D6 gas. Reliance Industries is set to begin gas production from KG-D6 from September.