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Punjab ends MoU with Reliance Industries

August 25, 2009 · Filed Under Reliance Industries · Comment 

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The ambitious project of Reliance Industries (RIL) to put up progressive farming practices in Punjab has been scrapped as the Punjab cabinet has terminated the Memorandum of Understanding (MoU) signed with RIL in 2006 for setting up of Agricultural Mega Projects in the state, saying that no action had been taken in accordance with the provisions of the MoU.
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Reliance Industries may get notice for PSC violation

July 23, 2009 · Filed Under Reliance Industries · Comment 

The petroleum ministry is considering issuing a notice to Reliance Industries (RIL) for allegedly violating the production sharing contract (PSC) governing supply and production of gas from the KG Basin, a government official in the know of the development said.

The government may even cancel the contract as it claims that the secret family agreement to divide the gas was signed without informing the government. The family agreement in question refers to a memorandum of understanding (MoU) drawn up in 2005, which forms the basis for the division of RIL and parts of which refer to gas supply by RIL to Reliance Natural Resources (RNRL).
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MoU before split not binding, Reliance tells court

August 5, 2008 · Filed Under Reliance Industries · Comment 

The Memorandum of Understanding (MoU) among Ambani family matriarch Kokilaben, her sons Mukesh and Anil Ambani prior to the split in the Reliance Group is not binding on RIL, its counsel told the Bombay High Court on Tuesday. Continue Reading »»