Business Daily from THE HINDU group of publications
Tuesday, Oct 16, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Oct 16, 2007 ePaper |
|
|
|
|
|
|
|
|
|
|
|
Home Page
-
Corporate Disputes Markets - Stocks Corporate - Courts/Legal Issues
BL Research Bureau The Bombay High Court’s order on the Reliance Industries-Reliance Natural Resources (RNRL) gas supply dispute extends the period of uncertainty for the planned Dadri power project of Reliance Energy. Though the court has asked the two parties to renegotiate the deal, there appears little scope for an agreement given the wide gulf in their respective positions over the Gas Supply Master Agreement signed as part of the separation between Mr Mukesh and Mr Anil Ambani. The Anil Ambani camp probably stands to lose more out of the delay as execution of the Dadri power project is linked to the supply of gas, as per the separation agreement, from the KG Basin field of Reliance Industries. Though Reliance Industries technically cannot assign the quantum that it has already guaranteed to RNRL to any other buyer as per the earlier High Court order, nothing prevents it from going ahead with the development of the gas fields. For the Anil Ambani group, the biggest plus from the order appears to be that the Court has not questioned the original Gas Supply Master Agreement signed between the two parties, but has only asked them to renegotiate it. It now appears that the issue will go back to the court and only the latter can help find a solution. More Stories on : Corporate Disputes | Stocks | Courts/Legal Issues
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
