Business Daily from THE HINDU group of publications
Wednesday, Jul 01, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Jul 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Corporate
-
Corporate Disputes
Our Bureau New Delhi, June 30 Mukesh-Ambani led Reliance Industries Ltd (RIL) has communicated to Anil Ambani-led Reliance Natural Resources Ltd (RNRL) that without the Government nod it would not sign any agreement on D6 gas sales. With just 15 days left for the two entities to ink an agreement on gas sale from RIL’s D6 block to RNRL, reports have been coming in about RNRL’s attempts to seek a meeting with RIL. This communication also puts to rest all speculation pertaining to a possible understanding emerging between the two companies on gas sales. RIL, according to sources, has written to RNRL that “During the hearing in the appeal in the Bombay High Court it was our stand that amongst other things the aspects of gas supply, aspects such as price, quantity and tenure to be incorporated into any agreement or any arrangement would be subject to approval of the Government”. “We have been advised that whereas there is lack of clarity on this aspect in the judgment, our position remains that we cannot sign any agreement without approval of the Government on price, quantity and tenure,” the company is understood to have informed RNRL. The Bombay High Court had on June 15 directed the two entities to reach a suitable gas sale and purchase agreement in a month’s time. The court has ordered RIL to supply 28 million standard cubic metre of gas from its D6 Block to RNRL at $2.34/mBtu for 17 years RIL has further said that it was in the process of legal consultation and would revert subsequently. HC order brings RIL gas pricing issue to the fore RIL-RNRL dispute: Await more twists in the tale Court directs Reliance to sell gas to RNRL at $2.34 More Stories on : Corporate Disputes | Petroleum | Reliance Industries Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
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 © 2009, 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
|