RIL-RNRL case adjourned till Aug 21

August 12th, 2008 - 11:04 pm ICT by IANS  

Mumbai, Aug 12 (IANS) The Bombay High Court Tuesday once again postponed the hearing of a dispute between Reliance Industries (RIL) and Reliance Natural Resources Ltd (RNRL) till Aug 21. The dispute is about which firm has the rights over gas supplies and at what price on the basis of a pact between the two.

An earlier interim order, in which the court had 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.

The court had also restrained RIL from entering into contracts to sell the gas from the basin - known as KG-D6 - with companies other than RNRL and the state-run National Thermal Power Corporation (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 time.

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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