RIL completes arguments in gas dispute
Mumbai: Reliance Industries, which is fighting off a case by Anil Ambani promoted Reliance Natural Resources, in the Bombay High Court over gas supply, completed its five-day argument on Friday.
The two-year-old case is heading towards a judgement as RNRL has said it will only need two days for its arguments, starting on Monday.
In his arguments, RIL counsel Harish Salve tried to address charges that his company did not adhere to the demerger agreement between itself and Anil Ambani’s RNRL.
He addresses RNRL’s contention that his client had watered down the clauses of gas supply agreement when it was signed with RNRL. RNRL was, at that time, controlled by RIL.
RNRL had, after being taken over by Anil Ambani, approached the court pointing out that the signedgas supply agreement deviated from what was originally promised in the demerger agreement.
In the demerger scheme, RIL had promised to deliver gas to RNRL at terms no less favourable than its agreement with NPTC.
source: DNAIndia
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