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Our Bureau

Mumbai, May 6

The restraint order on Reliance Industries Ltd that forbids it from selling natural gas from its KG basin gas fields to third parties continues.

Bombay High Court on Tuesday ordered status quo to be maintained in the case and has adjourned it till July 22.

RIL and Reliance Natural Resources Ltd of the Anil Ambani group are litigating in the high court over sharing of natural gas from the RIL-controlled KG basin gas fields. The restraint order was earlier passed by the high court.

Senior Counsel Mr Harish Salve representing RIL, in the course of argument before the court, said that the gas production from the KG basin field was round the corner. Therefore, RIL must be allowed to sign gas offtake agreements.

He also assured the court that all offtake agreements will have a rider.

It will inform that RIL is in litigation over gas sharing and all the decision of the Bombay High Court will be binding on the parties who enter into an agreement with the company.

Mr Mukul Rohatgi, Senior Counsel for RNRL, argued that the company was against any new agreements being signed by RIL.

More Stories on : Corporate Disputes | Courts/Legal Issues | Petroleum | Reliance Industries Ltd

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