Punjab ends MoU with Reliance Industries

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

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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