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Mumbai, August 30

Both Reliance Industries and National Thermal Power Corporation on Thursday requested the High Court, Mumbai, to expedite the hearing of their case, suggesting that the court grant them daily hearings. The court agreed to consider their request, said sources close to the disputing parties. The two companies have been locked in a court case over gas supply and pricing. In the dispute, NTPC's claim is that Reliance Industries had agreed unconditionally to a letter of intent for gas supply from its KG basin at $3.2 per unit of the fuel (gas prices have risen enormously since). Reliance Industries says that the letter of intent was conditional. - Our Bureau

More Stories on : Corporate Disputes | Reliance Industries Ltd | Petroleum | Power

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