Business Daily from THE HINDU group of publications
Friday, Oct 10, 2008
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Business Daily from THE HINDU group of publications Friday, Oct 10, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Corporate Disputes
Our Bureau Mumbai, Oct. 9 Reliance Natural Resources Ltd on Wednesday submitted to the division bench of the Bombay High Court extract of the Ambani family Memorandum of Understanding relating to the sharing of natural gas. RNRL filed the extract to support its claim on gas from the KG basin fields controlled by Reliance Industries Ltd. RIL, led by Mr Mukesh Ambani, and RNRL, led by Mr Anil Ambani, are in a legal battle over sharing of natural gas from RIL-controlled KG basin gas fields. The MoU is the main document based on which the Reliance empire was split. Until RNRL’s submission, the document or the extracts have never been placed before the court. However, in the course of arguments, the document has been cited a number of times. Counsel for RIL, Mr Harish Salve, opposed the move of taking the MoU on court’s record and said he was reserving his right to cross examine. Mr Ram Jethmalani, counsel for RNRL, said that the portions of the submitted MoU would enable the court to effectively deal with arguments put forth by RIL. ‘don’t make it public’Both the counsels have asked the court that the contents of the documents should not be made public. Mr Harish Salve in his previous arguments had said that the MoU document cannot be placed before the court at the current stage of argument. It can only be taken up by the court at the end of the argument. The court should not pass any order in the case relating to the MoU in favour of either party. It will affect the case, he had said. The arguments in the case are likely to continue on a day-to-day basis from October 15. Gas sharing: RNRL to place portions of MoU before HC Gas issue: RIL rules out out-of-court settlement More Stories on : Corporate Disputes | Petroleum | Courts/Legal Issues | Reliance Industries Ltd
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