The round two of the Ambani battle will begin soon with Mukesh's camp planning to knock on the Supreme Court's door as early as next week.
Also there is a twist in the tale with RIL putting up a brave face and saying that Monday's High Court ruling will have no impact on its ongoing legal fight with power major NTPC. Anil Ambani may have won the first round of his five year old battle with elder brother Mukesh, but the victory may not last long. Sources in Reliance Industries told NDTV that the company may challenge the Bombay court's order, which ruled in favour of Anil's RNRL, in the Supreme Court as early as next week. They also said that RIL is expected to argue that the Bombay High Court judgement will seriously jeopardise rapid development of its prolific D6 gas block in the Krishna Godavari basin, as Reliance will be forced to sell its gas at almost half the market price to RNRL. Besides, according to RIL the ruling was not in tandem with the government policy on natural gas. HP Ranina, a corporate lawyer said, “In terms of clarification, I am sure the Supreme Court will send them back to the Bombay High Court. I personally feel the apex will ask both the brothers to find an amicable solution. Besides, the Bombay High Court on Wednesday said that it would hold a final hearing on RIL’s dispute with NTPC over gas supplies after two weeks. RIL maintains that RNRL case outcome will have no impact on the current one, despite the fact that the very basis of its fight with RNRL was based on NTPC's purchase price of $2.34 per unit of gas. Meanwhile, the action may now shift to the Supreme Court for the two warring brothers, but in all probability they will be directed back to sea wind and asked to sit over a cup of coffee with their mother to end this multi-year dispute.
Also there is a twist in the tale with RIL putting up a brave face and saying that Monday's High Court ruling will have no impact on its ongoing legal fight with power major NTPC. Anil Ambani may have won the first round of his five year old battle with elder brother Mukesh, but the victory may not last long. Sources in Reliance Industries told NDTV that the company may challenge the Bombay court's order, which ruled in favour of Anil's RNRL, in the Supreme Court as early as next week. They also said that RIL is expected to argue that the Bombay High Court judgement will seriously jeopardise rapid development of its prolific D6 gas block in the Krishna Godavari basin, as Reliance will be forced to sell its gas at almost half the market price to RNRL. Besides, according to RIL the ruling was not in tandem with the government policy on natural gas. HP Ranina, a corporate lawyer said, “In terms of clarification, I am sure the Supreme Court will send them back to the Bombay High Court. I personally feel the apex will ask both the brothers to find an amicable solution. Besides, the Bombay High Court on Wednesday said that it would hold a final hearing on RIL’s dispute with NTPC over gas supplies after two weeks. RIL maintains that RNRL case outcome will have no impact on the current one, despite the fact that the very basis of its fight with RNRL was based on NTPC's purchase price of $2.34 per unit of gas. Meanwhile, the action may now shift to the Supreme Court for the two warring brothers, but in all probability they will be directed back to sea wind and asked to sit over a cup of coffee with their mother to end this multi-year dispute.
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