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RNRL Seeks To Join Reliance Industries, NTPC Legal Row
Reliance Natural Resources Ltd. (532709.BY) Monday filed an application in India’s apex court seeking to join the legal battle between Reliance Industries Ltd. (500325.BY) and NTPC Ltd. (532555.BY), the CNBC-TV18 television channel reported Monday.
According to the report, RNRL - which is fighting a separate legal battle with RIL over the pricing and supply of natural gas - said in the application that its interests were identical to that of NTPC and the court’s decision will impact RNRL’s dispute with RIL.
State-run power producer NTPC and RIL are fighting over the implementation of a gas supply pact agreed in 2005. Under the pact, RIL was to supply 12 million metric cubic meters a day of gas from its D6 block in the Krishna Godavari basin off India’s east coast at $2.34 per million metric British thermal unit to NTPC.
Early this month, NTPC approached the Supreme court, challenging a ruling by the Bombay High Court that allowed RIL to amend its petition on their gas dispute.
RNRL has filed a separate case in the Supreme Court against RIL for not implementing a gas supply agreement. The apex court will take up this case for hearing next month.
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