Business Standard
Saturday, May 26, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Commodities
 

Anil group firm moves SC to become party to NTPC-RIL case
Press Trust of India / New Delhi Sep 14, 2009, 16:31 IST

Anil Ambani group company RNRL today sought the Supreme Court's permission to be a party to power PSU NTPC's case against Reliance Industries for getting gas at a contracted price, saying its case against the Mukesh Ambani-led firm was similar.

"Since the issues that arise in the case filed by NTPC in the Supreme Court directly affect the case of RNRL against RIL, it is just and necessary that RNRL is permitted to be impleaded as a party in the present case," Reliance Natural Resources said in its application for intervention.

reliance
BSE | NSE
Price  
reliance ind
Listing out a number of issues that are "common" in the cases instituted by NTPC and RNRL against Reliance Industries for enforcement of an agreement to supply gas, RNRL said: "RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC."

Therefore, any decision on NTPC's petition, filed on September 5, would have a bearing on RNRL's case already pending before the Supreme Court, the application said.

Both RIL and RNRL have filed cross-appeals on a June 15 judgement of Bombay High Court that asked RIL to give gas at $2.34 per mmBtu and suggested the two firms to reach an enabling agreement for the same.

The apex court would commence hearing on October 20 on these appeals, as also a related petition filed by the government. NTPC's petition, challenging a Bombay High Court decision that allowed RIL to amend its petition on th gas dispute citing the government's pricing policy, is yet to be heard by the apex court.

A Division Bench of the High Court had allowed amendment to the petition wherein RIL had prayed that the government's gas pricing policy would frustrate its contract with NTPC.

NTPC had moved the Bombay High Court seeking 12 mmscmd gas from RIL which had emerged winner in a global competitive bid quoting a price of $2.34 per mmBtu.

In its application, RNRL also quoted an eGoM decision of August 2008:  "The minister of law clarified that the two cases between RIL Vs NTPC and RIL Vs RNRL were separate contracts between supplier and different companies. We have to keep these cases beyond the scope of our deliberations and take a decision in general on NELP pricing issue."

It said that the defences raised by RIL by way of amendment to its written statement in the NTPC suit in Bombay High Court were an issue in the petition filed by the Mukesh Ambani-led firm against RNRL.

Listing out the common issues between the two cases, RNRL said: "RIL is abusing the process of law to frustrate the lawful commitments made by it to satisfy the commercial greed... RIL is making one pretext or other to wriggle out of its commitment to supply gas to NTPC and RNRL."

 

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end flat
- SAIL to add 5 mn tonne capacity in FY13
- NHPC FY12 net up 28% at Rs 2,772 cr
- Aarti Industries Q4 up nearly 27% at Rs 28.24 crore
- BPCL posts four-fold jump in Q4 net at Rs 3,963 cr
  Read Business news in 
- Journey on, We are by Your Side. Click here to know more
- 2 Lac Apartments, 1 Lac House / Plots. Click here
- Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol.
- The Best Seller is Also the No. 1 in Mileage. Click here
- Watch The Film Here. Click here to know more..
- Leader in Passenger Car & Automobile Tyres. Click here
- 1 billion in saving for Unilever without any tangles.
- A Brand New Server at a Price That Fits Your Budget. Click here
- Learn How One City is Running on FOOD SCRAPS.
- One Partnership Endless Possibilities. Click here to know more
- Helping doctors detect diseases earlier, saving costs & extending lives.
- 36 Lakhs can get you a pool of Luxuries. Click here
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Reddy rules out rollback of rise in petrol prices
- Ajit Singh meets striking pilots
- IPL on turning track, broadcast revenue down by a third
- FIIs bet heavily in Indian market, but in Singapore
- No country for easy skill development
 
 More  
Tax Shastra
  Now available at Special price
  Rs. 360/- Only

  Buy Now
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us