RNRL may sell KG gas to third parties, fears RIL

Mukesh Ambani controlled Reliance Industries (RIL) fears that gas supplied to Reliance Natural Resources (RNRL), belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL.

Appearing before a Bombay High Court division bench comprising Justice J N Patel and K K Tated, Salve said the sale price of $2.34 a million British thermal unit for 28 million cubic metres of gas is not viable and RIL cannot sell it cheap to an ADAG company.