Thaindian News

New Delhi, July 30 (IANS) Anil Ambani-led Reliance Natural Resources moved the Supreme Court Thursday seeking an early settlement of the dispute with Reliance Industries over gas from the Krishna-Godavari basin, even as the government withdrew its affidavit as an intervener on the matter.
According to Mahesh Agarwal, Counsel for Reliance Natural Resources, the Supreme Court admitted his client’s petition and asked all the parties to appear before it on Sep 1. The court also said an earlier date may be fixed for final hearing.

Both the government and Mukesh Ambani-led Reliance Industries supported the petition that seeks early resolution of the dispute over natural gas from the fields off the Andhra Pradesh High Court.

The government, meanwhile, withdrew its special leave petition, which wanted the court to quash the production-sharing contract between the two companies. A modified version is expected later this week.

Last month, the Bombay High Court had asked Reliance Industries to supply 28 million units of gas from Krishna-Godavari basin to Reliance Natural Resources for 17 years at $2.34 per unit, after assigning 12 million units to the state-run power utility NTPC.

But Reliance Industries challenged the verdict in the Supreme Court, which heard the case July 20 and fixed Sep 1 as the next date of hearing. It also asked all parties to file their replies on the government position on the matter by then.

Wednesday had seen the Lok Sabha, the lower house of parliament, adjourn more than once when some members, led by Samajwadi Party chief Mulayam Singh Yadav, asked for Petroleum Minister Murli Deora’s resignation over the matter.

Their main contention was that the petroleum ministry was unable to ensure gas supplies from the Reliance gas fields to the crucial Dadri power project in Uttar Pradesh on the outskirts of the national capital.