Make NTPC a party in RNRL case: Anil to SC
Alleging that Mukesh Ambani managed RIL was trying to wriggle out of gas supply contracts with NTPC and itself, Anil Ambani on Wednesday asked the Supreme Court to make the state-owned power company a party to its ongoing case against RIL.business Updated: Sep 17, 2009 00:23 IST
Alleging that Mukesh Ambani managed Reliance Industries Ltd (RIL) was trying to wriggle out of gas supply contracts with NTPC and itself, Anil Ambani controlled Reliance Natural Resources Ltd (RNRL) on Wednesday asked the Supreme Court to make the state-owned power company a party to its ongoing case against RIL.
The move comes within days of RNRL approaching the apex court to become a party to the petition filed by NTPC against RIL that seeks quashing of the Bombay High Court, which allowed RIL to amend its petition.
Listing out the details of NTPC’s case, RNRL said, “RIL had adopted the same malafide design of inserting unsuitable terms in the respective gas supply agreements with RNRL and NTPC to renege from its binding obligations.”
This, it said, was a result of pure commercial greed in as much as the gas prices had started rising. Both RNRL and NTPC are seeking gas from RIL’s KG-D6 fields at a price of $2.34 (Rs 113) per unit, while RIL now argues that the price needs government approval.
The pleadings come ahead of the commencement of final hearing on the matters by the Supreme Court on October 20. “RNRL and NTPC are taking the same stand to oppose the dishonest stand taken by RIL to avoid its obligation to supply gas to both the companies,” the application by RNRL stated.