Anil Ambani firm wants gas on same terms as NTPCOctober 15th, 2008 - 10:18 pm ICT by IANS
Mumbai, Oct 15 (IANS) Anil Ambani-promoted Reliance Natural Resources Ltd (RNRL) Wednesday told the Bombay High Court that under the memorandum of understanding (MoU) signed with Reliance Industries Ltd (RIL), gas from the Krishna-Godavari (KG) basin has to be given to it on the same terms as the National Thermal Power Corporation (NTPC).The MoU records the arrangement between Anil Ambani and RIL chief Mukesh Ambani as part of the demerger scheme of the Reliance group founded by their father Dhirubhai Ambani, and also notes what needed to be done in future.
Last week, part of the much talked about MoU between the Ambani brothers was placed in the high court. RNRL is relying on this MoU in its case against RIL over terms for the supply of gas for its power projects.
The KG-D6 dispute revolves around a pact between RNRL and RIL on which firm has the rights over the gas supplies and at what price.
An earlier interim order, in which the court restrained RIL from selling the gas or from entering into any contract with a third party, has lapsed. RIL was subsequently planning to start production from the basin.
The court had also restrained RIL from entering into contracts to sell the gas from this basin - known in official jargon as KG-D6 gas - with companies other than RNRL and the state-run National Thermal Power Corp (NTPC).
It had also asked the two sides to settle the dispute within four months, but they failed to reach an agreement within the stipulated timeframe.
RNRL has claimed at least half of the 80 million standard cubic metres of gas per day that is envisaged from the fields off the Andhra Pradesh coast - said to be the country’s biggest source of hydrocarbons today.
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- Anil Ambani group produces pact copy in court - Oct 08, 2008
- Anil Ambani makes a surprise appearance at Supreme Court - Nov 24, 2009
- Bombay High Court resumes KG-Basin gas row hearing - Oct 06, 2008
- Timeline of Reliance Krishna-Godavari gas dispute - May 07, 2010
- KG basin gas row: SC to deliver verdict today - May 07, 2010
- Krishna-Godavari gas not for Dadri alone: RNRL - Dec 03, 2009
- Chronology of the Krishna-Godavari gas dispute - Oct 19, 2009
- Oil ministry has compromised NTPC's rights: RNRL (To go with: Court agrees high gas price will push power, fertiliser costs) - Dec 02, 2009
- RIL itself had sought permission to sell gas at $2.34 per unit: RNRL - Dec 08, 2009
- 'Anil Ambani entitled to earlier rights in RIL if de-merger fails' (Lead) - Nov 25, 2009
- RIL itself sought permission to sell gas at $2.34 per unit: RNRL (Lead) - Dec 08, 2009
- RNRL seeks bankable agreement on Krishna-Godavari gas - Dec 15, 2009
- Supreme Court reserves verdict in Reliance gas dispute - Dec 18, 2009
- 'Anil Ambani entitled to earlier rights in RIL if de-merger fails' - Nov 25, 2009