Question RIL directors: ADAG
Anil Ambani controlled Reliance Natural Resources Ltd’s (RNRL) senior counsel Ram Jethmalani on Thursday told the Supreme Court (SC) that he should be allowed to cross-examine Mukesh Ambani managed Reliance Industries Ltd, reports HT Correspondent.business Updated: Nov 12, 2009 22:08 IST
Anil Ambani controlled Reliance Natural Resources Ltd’s (RNRL) senior counsel Ram Jethmalani on Thursday told the Supreme Court (SC) that he should be allowed to cross-examine Mukesh Ambani managed Reliance Industries Ltd’s (RIL) seven directors who have denied having knowledge of the memorandum of understanding (MoU) signed between the Ambani brothers.
The directors have stated on oath (through affidavits) that they did not know of the family business reorganisation pact.
Minutes before the court was to rise, Jethmalani sought permission to examine the directions as their affidavits amounted to new evidence.
“These affidavits were not filed earlier in the Bombay High Court or in any earlier legal proceedings,” he argued.
Company law mandates cross-examination of those who file documents in court as evidence. Jethamalani said if RIL wished to admit its directors’ affidavits as evidence, they should be subjected to cross-examination.
Earlier, the SC bench headed by Chief Justice K.G. Balakrishnan expressed apprehension over RIL’s claim that the company wasn’t aware of the MoU. “Did Mukesh Ambani have a copy of the MoU?” asked the bench.
Mukesh’s senior counsel Harish Salve said “he must be having it in his private capacity”. To this the bench asked if not all the RIL executives had its copy or its excerpts. When Salve said “yes”, the bench said: “So you cannot say that RIL didn’t know of it.”
RIL's submission revolved around the question of a suitable arrangement for the supply of gas from KG Basin to RNRL.