Mukesh Ambani group to move SC

Reliance Industries (RIL), the Mukesh Ambani-controlled petroleum-to-retail giant, has decided to approach the Supreme Court in the ongoing battle with Reliance Natural Resources Limited (RNRL) over distribution of natural gas from the Krishna Godavari basin.

Reliance Industries (RIL), the Mukesh Ambani-controlled petroleum-to-retail giant, has decided to approach the Supreme Court in the ongoing battle with Reliance Natural Resources Limited (RNRL) over distribution of natural gas from the Krishna Godavari basin.

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Mukesh’s brother Anil Ambani owns RNRL.

On June 15, a division bench of the Bombay High Court had asked RIL to sell natural gas to RNRL at $2.34 (Rs 111.85) per million British thermal units (mBtu). The recommended price is 44 per cent lower than the price fixed by the government for distribution to other buyers.

“We are filling appropriate proceedings in the Supreme Court against the judgment delivered by the Bombay High Court on June 15, 2009,” a RIL statement said.

RNRL officials weren’t reachable despite many attempts.

“We do not concur with your interpretation of the findings in the said judgment and the order dated June 15, 2009 and the question of deliberately, wantonly or otherwise defying implementation of the order of the hon’ble court does not arise,” the RIL statement said.