RIL moves SC against Bombay HC's gas pricing ruling | business | Hindustan Times
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RIL moves SC against Bombay HC's gas pricing ruling

business Updated: Jul 04, 2009 15:27 IST

A day after Anil Ambani-led RNRL petitioned the Supreme Court, Mukesh Ambani-run RIL also moved the apex court challenging the Bombay High Court judgement asking it to supply gas to the former at 44 per cent lower price than fixed by the government.

Reliance Industries Ltd in its appeal on Saturday contended that the high court had erred in deciding the three terms — quantity, tenure and price of gas supply — to power plants of RNRL affiliates as the court had no jurisdiction.

According to the petition, the supply of gas as per the MoU was subject to all necessary approvals as required under the Production Sharing Contract and the government policy.

RNRL had yesterday said that it was compelled to move the apex court by RIL's "obstructionist position". It added that the company is seeking directions to RIL to execute a reliable pact in accordance with the high court findings.

It (RNRL) had said the "high court order fully protects the right, entitlement and economic interest of the government."

The high court on June 15 had asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields to RNRL at USD 2.34 per mmBtu for 17 years from the date of setting up of the Dadri power plant.