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Mr Anil Ambani, Chairman, Reliance Natural Resources.

Our Bureau

Mumbai, Sept 1 The Reliance Natural Resources (RNRL) Chairman, Mr Anil Ambani, on Tuesday welcomed the amendments proposed by the Centre in the Special Leave Petition (SLP) filed by it before the Supreme Court in the gas dispute with Reliance Industries.

The issue relates to the dispute between Mr Mukesh Ambani and Mr Anil Ambani over the supply and pricing of natural gas from Reliance Industries’ D6 field in the Krishna-Godavari basin.

The Centre had, earlier in the day, filed an application in the Supreme Court asking it to set aside only the part of the Bombay High Court judgment that relates to the interpretation of its Gas Utilisation Policy and provisions of the production sharing contract.

“The role of the Government of India in the RNRL-RIL matter remains limited only to the interpretation of two issues,” Mr Ambani said.

With the filing of the SLP, the role of the Centre would be limited to the Gas Utilisation Policy and provisions of the production sharing contract, he added.

“This is exactly the same scope of intervention that was permitted to the Government by the Bombay High Court,” he said.

RNRL also welcomed the “effective legal steps” taken by the Centre to protect NTPC’s interests, thereby protecting it from “potential losses of up to Rs 30,000 crore and preserving the wider national and public interest”. He also maintained that the RNRL-RIL gas matter was purely a commercial dispute between two corporate entities concerning the implementation of the scheme for reorganising RIL’s businesses in 2005. The Supreme Court has scheduled hearing for the RIL-RNRL gas dispute for October 20. The issue had blown into a full-fledged public spat with accusations and counters flying thick and fast almost every day. Observers say that this could well continue for a while right up to the Apex Court hearing next month.

Shares of RNRL closed down 2.38 per cent at Rs 84.15, while those of RIL dipped by 1.10 per cent and closed at Rs 1,982 on Tuesday. The Sensex was, incidentally, down by 0.74 per cent.

More Stories on : Petroleum | Corporate Disputes | Courts/Legal Issues | Reliance Industries Ltd

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