Oil ministry to PMO: Ambani gas pact flouts govt authority | business | Hindustan Times
Today in New Delhi, India
May 01, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Oil ministry to PMO: Ambani gas pact flouts govt authority

The part of the Ambani family pact that divides the gas found by Reliance Industries Ltd between brothers Mukesh and Anil group firms is against public interest, flouts government authority and will set a wrong precedent for others, the petroleum ministry has said.

business Updated: Aug 11, 2009 22:56 IST

The part of the Ambani family pact that divides the gas found by Reliance Industries Ltd between brothers Mukesh and Anil group firms is against public interest, flouts government authority and will set a wrong precedent for others, the petroleum ministry has said.

Responding to comments sought by the Prime Minister’s Office (PMO) on a letter from industrialist Anil Ambani, the ministry last week wrote that the family Memorandum of Understanding (MoU) was clearly against the provisions of the Production Sharing Contract (PSC) and will “harm the public interest”.

Anil Ambani had written to the Prime Minister on July 15 seeking a direction to the Oil Ministry to stop favouring Reliance Industries in a commercial dispute between two companies.

The Bombay High Court’s June 15 order that upheld the MoU, gives “precedence to a private family MoU over the government’s rights under the PSC, the policies approved by the government and the Constitution of India,” the ministry said.

Is Your Couch Making You Cough?
Promotional Feature