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SC raises questions on suitable arrangement to resolve Ambani feud

October 29, 2009 · Filed Under Reliance Industries · Comment 

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Hearing the high voltage legal battle between the Ambani brothers, the Supreme Court on Wednesday raised questions on the possibility of the two sides working out a ’suitable arrangement’ to resolve the gas dispute.

What suitable arrangement you can make out or arrive at. There must be parameters to arrive at a suitable arrangement, a Bench headed by Chief Justice K G Balakrishnan said.

The Bench was hearing for the fourth day the dispute between RIL and RNRL relating to supply of gas from KG basin for which the two brothers Mukesh Ambani and Anil Ambani are engaged in a bitter fight.
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Gas row: Ambani brothers MoU not binding on RIL board

October 25, 2009 · Filed Under Reliance Industries, Reliance Natural Res · Comment 

It was day three of the legal case between Mukesh Ambani’s Reliance Industries (RIL) and Anil Ambani’s Reliance Natural Resources (RNRL) in the row over price of gas. CNBC-TV18’s Nayantara Rai gives you a ringside view of developments.

The Supreme Court bench asked RIL to prove whether or not the family Memorandum of Understanding (DoT) signed between the two promoters was binding on the company.
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Ambani gas dispute like war between two nations: SC

October 25, 2009 · Filed Under Reliance Industries · Comment 

The dispute over natural gas from Krishna-Godavari basin is not a fight between two companies, but one between two brothers, Mukesh and Anil Ambani, the Supreme Court observed on Tuesday, as it commenced hearing the high-profile legal battle.

It’s like two countries, where there is no fight between their people, observed the three-member bench of Chief Justice K.G. Balakrishnan, Justice R.V. Raveendran and Justice P. Sathasivam.

The fight is between the two persons, who are heading the country. But the fight has percolated down to the people, the bench added, while hearing the arguments by senior counsel Harish Salve, appearing for Mukesh Ambani-led Reliance Industries.
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3-judge bench ready to take up Ambani dispute case

October 13, 2009 · Filed Under Reliance Industries, Reliance Natural Res · Comment 

A three-judge bench of the Supreme Court is ready to take up the dispute between the Ambani brothers over supply of gas from the Krishna-Godavari basin.

According to the advance cause list of the apex court, which deals with the list of items for hearing, the petitions related to the KG gas slugfest will be taken up by a three-judge bench on October 20.
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Reliance Industries asks govt to re-allocate gas NTPC refusing to take

October 11, 2009 · Filed Under Reliance Industries · Comment 

Turning the heat on NTPC, Reliance Industries has asked the government to re-allocate the gas the state-run power utility is refusing to take, to other customers so that it is not forced to cap output from its eastern offshore fields.

NTPC, which has been allocated 2.67 million standard cubic meters per day of gas from RIL’s KG-D6 fields, has after months of deterring signed contracts to take only one-fifth of its quota.
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Family MoU is not binding on corporate entity: RIL

October 6, 2009 · Filed Under Reliance Industries, Reliance Natural Res · Comment 

Reliance Industries has filed an affidavit against Reliance Natural Resources’ (RNRL) special leave petition (SLP) in the Supreme Court, reports CNBC-TV18’s Nayantara Rai. The affidavit is well over a thousand pages. We are reading it and comprehending everything slowly. It has gone back before the memorandum of understanding was signed and brought to life and what exactly happened and transpired between the two brothers.
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RNRL now moves Supreme Court against oil regulator

October 6, 2009 · Filed Under Reliance Industries, Reliance Natural Res · Comment 

In the latest twist to the gas dispute between the two Reliance group scions, the Anil Ambani group firm Reliance Natural Resources Ltd moved the Supreme Court on Tuesday, alleging that the petroleum sector regulator V K Sibal was acting at the behest of Mukesh Ambani’s Reliance Industries Ltd (RIL) in exchange for undue favours.

RNRL’s move came a day after it was reported that the Central Vigilance Commission (CVC) has initiated an inquiry by the Central Bureau of Investigation (CBI) into the alleged nexus of Sibal with RIL.
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RNRL drags DGH into ongoing gas issue with Reliance Industries

October 6, 2009 · Filed Under Reliance Natural Res · Comment 

Reliance Natural Resources Ld (RNRL) moved an application before the Supreme Court on Tuesday alleging nexus between the Directorate-General of Hydrocarbon (DGH) and Reliance Industries.

Quoting media reports to that effect, RNRL has alleged that the DGH, Mr V.K. Sibal, has been recipient of undue favours from RIL and appears to be acting at the behest of the Mukesh Ambani company.

The application also states that Mr Sibal has approved the phenomenal increase in capex of RIL-operated Krishna Godavari Basin D6 block between September-December 2006.
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Reliance Industries Says RNRL Can’t Trade Natural Gas

October 6, 2009 · Filed Under Reliance Industries, Reliance Natural Res · Comment 

Reliance Industries Ltd., the operator of India’s biggest natural gas field, said Reliance Natural Resources Ltd. doesn’t have contractual rights to trade in the fuel following the split of the Ambani family business.

Gas can only be sold to priority end-users identified by the government, Reliance Industries said in an affidavit filed today in the Supreme Court.

Reliance Industries, controlled by billionaire Mukesh Ambani, asked the top court to dismiss a plea by Reliance Natural, owned by estranged brother Anil Ambani, for immediate supply of the gas in accordance with an agreement signed by the two companies.
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Reliance Power receives 6 bid for Dadri power project

October 5, 2009 · Filed Under Reliance Power · Comment 

Reliance Power’s 8,000 MW gas fired power project at Dadri in Uttar Pradesh has received bids from 6 global and Indian companies for the engineering, procurement and construction contract, even as the project, which is the biggest gas-based plant so far, awaits a Supreme Court decision on gas supplies.

Global majors such as GE, Siemens, Alstom, Mitsubishi, and domestic majors such as Larsen and Toubro and Bharat Heavy Electricals have submitted their bids for the contract, which is estimated at USD 3 billion said people connected with the development. The bids were called on August 7.
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