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RNRL Seeks To Join Reliance Industries, NTPC Legal Row

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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.
Source: wsj

September 14, 2009 · Filed Under Reliance Industries, Reliance Natural Res 
Visited 1148 times, 1 so far today
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