RNRL wins legal tussle over gas supplyJune 15th, 2009 - 1:57 pm ICT by IANS
Mumbai, June 15 (IANS) Anil Ambani’s Reliance Natural Resources Ltd (RNRL) will get assured gas supply of 28 million metric standard cubic metre per day (mmscmd) from the Krishna-Godavari basin for 17 years, the Bombay High Court ruled Monday.
The court has also fixed the price at $2.34 per million British thermal unit (mmbtu).
RNRL had approached the court against Mukesh Ambani’s Reliance Industries Ltd (RIL) that had refused to give gas at $2.34 per mmbtu from the Krishna-Godavari basin.
The court has directed RIL to arrive at an arrangement along these lines within a month.
It has also said the Ambani brothers may consult their mother if there is any difficulty at arriving at a conclusion.
At 11.15 a.m., shares of RNRL were up 20 percent at Rs.105 while RIL shares fell 4 percent to Rs.2,258.
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- Murli Deora welcomes Supreme Court's verdict on Krishna Godavari Basin Gas dispute - May 07, 2010
- Apex court reserves verdict on Krishna-Godavari gas row (Lead) - Dec 18, 2009
- Even oil ministry said RIL has full gas marketing freedom: RNRL - Dec 01, 2009
- RIL responsible for Dadri power project stalemate: RNRL (To go with: Even oil ministry said RIL has full gas marketing freedom: RNRL) - Dec 01, 2009
- Government has every right to regulate gas price: RIL - Dec 17, 2009
- KG Basin row: SC says government is owner of gas - May 07, 2010
- Reliance Industries to supply natural gas to ADAG plants: Mukesh Ambani - Jun 18, 2010
- RNRL ends argument on gas dispute with plea for comprehensive solution - Dec 16, 2009
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