RNRL- RILAnil Ambani - Mukesh Ambani
RIL and RNRL are scheduled to meet next week following receipt of a mail from the Anil Ambani-controlled company, sources told NDTV. The Bombay HC on June 17 gave RIL and RNRL four weeks to settle their dispute.
The Bombay High court upheld Anil Ambani-owned Reliance Natural Resource’s plea to revert to lower prices for buying gas from Reliance Industries, which the Mukesh Ambani-led firm pumps from the Krishna Godavari basin.
According to the court order, RNRL will only pay $2.34 per mmbtu to RIL as previously agreed under the MoU signed when the Reliance empire split in 2005.
RIL will have to supply a huge 28 mmscmd of gas or nearly 35 per cent of their expected peak production of 80 mmscmd and will have to continue supplying to RNRL for 17 years.
The High Court has also asked the parties to thrash out their differences and come up with a comprehensive agreement.
The Bombay High court upheld Anil Ambani-owned Reliance Natural Resource’s plea to revert to lower prices for buying gas from Reliance Industries, which the Mukesh Ambani-led firm pumps from the Krishna Godavari basin.
According to the court order, RNRL will only pay $2.34 per mmbtu to RIL as previously agreed under the MoU signed when the Reliance empire split in 2005.
RIL will have to supply a huge 28 mmscmd of gas or nearly 35 per cent of their expected peak production of 80 mmscmd and will have to continue supplying to RNRL for 17 years.
The High Court has also asked the parties to thrash out their differences and come up with a comprehensive agreement.
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