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SC advised Ambanis to settle gas dispute
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Pulling it out of the realm of speculation, the Centre on Thursday was categoric before the Supreme Court that it had repeatedly advised warring Ambani brothers — Mukesh and Anil — to bury the hatchet and arrive at an amicable settlement over supply of gas.
It is a battle between them and we have told them time and again to resolve the issues. After all, they are captains of industry, said solicitor general Gopal Subramaniam after clarifying that notwithstanding the outcome of NTPC’s suit in Bombay High Court for supply of gas from RIL at cheap rates, the Centre would do everything to protect the PSU’s interests.
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RIL-RNRL gas deal could cost India Rs 1 lakh cr: Centre
Implementing the Ambani family agreement on gas supply by RIL to RNRL could cost the country Rs 1 lakh crore, said the Centre on Wednesday ducking the SC’s uncomfortable questions about its docile role before the Bombay HC and braving RNRL’s cross-examination threat.
Additional solicitor general Vivek Tankha reeled out statistics to show that giving effect to the private agreement overriding the production sharing contract (PSC) outlining the government’s public policy would cause a loss of Rs 25,000 crore to the government apart from rendering idle industrial infrastructure worth Rs 75,000 crore.
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Ambanis 2005 family deal not binding: RIL counsel
The memorandum of understanding arrived at in the Ambani family in 2005 to divide the industrial assets between brothers Mukesh and Anil was only a ‘guiding tool’ and could not be treated as binding on the demerged companies, Reliance Industries’ counsel Harish Salve told the Supreme Court today.
Mukesh Ambani new home is world costliest
Some interesting facts about Anil Ambani
He was resuming RIL’s arguments in the five appeals against the Bombay high court judgment of July 15 in the dispute with Anil Ambani’s Reliance Natural Resources Ltd (RNRL) over Krishna-Godavari basin gas. His arguments are likely to conclude on Thursday, when the central government, the new entrant in the legal fray, will present its contentions.
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RIL: gas pricing dispute settlement reports baseless
Reliance Industries said on Tuesday reports of a meeting between the billionaire Ambani brothers to settle a gas-pricing dispute were baseless.
Reliance Industries, controlled by billionaire Mukesh Ambani, is embroiled in a high-profile legal battle over a deal to sell gas to Reliance Natural Resources, led by Ambani’s estranged younger brother Anil, at below the price set by the government.
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Fresh hearing on Reliance gas dispute case
The Supreme Court Thursday began hearing afresh the high profile legal dispute between the Ambani brothers, Mukesh and Anil, over the supply and pricing of natural gas.
A bench headed by Chief Justice K G Balakrishnan and having Justice B Sudarshan Reddy and Justice P Sathasivam began hearing the case afresh after another judge, Justice R V Raveendran quit the hearing saying that his daughter worked for a law firm which advised Mukesh Ambani’s Reliance Industries Limited on global acquisitions.
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Ambani brothers oppose MoU disclosure
Locked in a bitter legal battle over supply and pricing of natural gas, Mukesh Ambani’s RIL and Anil’s RNRL buried the hatchet to jointly oppose a petition in Supreme Court seeking disclosure of the family agreement for division of assets and demerger of Reliance companies.
The petition was filed by a person who held shares in both RIL and RNRL. He questioned the basis for the demerger and division of companies based on a “secret” family agreement without it being put before the Board of Directors or being disclosed to shareholders.
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Reliance Natural Resources Q2 net rises 5 pct
Three months ended Sept. 30 (versus the same period a year earlier, in million rupees unless stated) Net profit 211.6 vs 201.0
NOTE: Reliance Natural Resources, part of India’s Anil Dhirubhai Ambani Group, is engaged in the sourcing, supply and transportation of gas, coal and liquid fuels.
Source: forbes
Can Mrs Ambani sort out her sons feud?
It began as a family squabble between two brothers who couldn’t agree how to divide their father’s inheritance. Seven years later, Ambani v Ambani is the world’s richest court battle – and one so entrenched it has defied the peace efforts of the Indian government, the brothers’ own mother and even a Hindu god.
This week it was the turn of India’s highest court to try to end the warring between Mukesh and his younger brother Anil, who between them own the country’s gas industry and are commonly referred to as the richest brothers in the world.
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SC raises questions on suitable arrangement to resolve Ambani feud
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
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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