Good if Ambanis can resolve differences amicably: Pranab

Finance Minister Pranab Mukherjee today hoped that Mukesh and Anil Ambani would be able to sort out their differences amicably, for the sake of the Indian market but added no one can say what will happen.

"I do not know what will happen because they are too big. They have substantial influence over the Indian market, therefore it is better that they sort out among themselves amicably. But, after all it is for them to decide," he said when asked if he saw the dispute being resolved out of court.

"We may express our views and desires, but I do not know what would happen," added Mukherjee.

Incidentally, the Supreme Court, too, asked the Ambanis today why they cannot settle their dispute over gas supply through arbitration or mediation.

The Supreme Court has commenced final hearing on the gas dispute that pertains to Anil Ambani group firm RNRL's demand, that it be supplied gas by Mukesh-controlled RIL at a price of $2.34 per mmBtu agreed in a 2005 family MoU.

RIL, however, contends that it cannot do so in view of the government policy, which in 2007 approved $4.20 per mmBtu as price for gas from the KG-D6 fields. Besides, the company said the family MoU was between the Ambani brothers and that Anil should sue Mukesh if he feels aggrieved.