RIL makes govt party to gas supply dispute with RNRL
Press Trust of India / New Delhi Jul 05, 2009, 15:23 IST
Mukesh Ambani-led Reliance Industries (RIL) has made the government a party in its petition before the apex court challenging the Bombay High Court verdict on the gas supply dispute with Anil Ambani group company Reliance Natural Resources (RNRL).
The Bombay High Court had on June 15 ruled RIL give gas to RNRL at a price that is 44 per cent lower than rate fixed by the government but asked the two sides work out an agreement within a month.
In its petition filed a day after RNRL moved the apex court, RIL yesterday made the government a party in saying that the high court had erred in deciding the three terms - quantity, tenure and price of gas supply.
The high court had said RIL supply 28 mmscmd gas to RNRL at $2.34 per mmBtu for 17 years and asked the both the parties to reach an out of court settlement on other sides of the issue and they could approach mother Kokilaben for help.
While the government had on November 14 last year filed an affidavit in the high court saying that RIL did not have the right to sell gas for less than the government-fixed price of $4.2, it had later withdrawn it following a demand by a RNRL counsel to cross-examine the government official who had signed the affidavit on behalf of the government.
Petroleum Minister Murli Deora yesterday declined to comment on both sides going to court but had said that "I will be happy if they (Mukesh and Anil Ambani)come together".
Content Guide
