Sunday, July 19, 2009

Declare Ambani MoU illegal, govt asks SC

The government today joined the dispute that has simmered between Mukesh and Anil Ambani since 2006 over gas from the Krishna-Godavari basin when it filed a special leave petition (SLP) in the Supreme Court pleading that the memorandum of understanding between the two brothers be treated “illegal” and declared null and void as it treated the gas as a personal and family property of the signatories.

Anil Ambani-promoted Reliance Natural Resources Ltd (RNRL) has laid claim (through a family agreement prior to the group’s split in 2005) to 28 million standard cubic metres a day (mscmd) of gas from Mukesh Ambani’s Reliance Industries Ltd (RIL) at a price of $2.34 per million metric British thermal units (mmBtu) for 17 years.

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