Ambani row continues over gas deal

While RNRL officials reached the business chambers of the Trident Hotel in Mumbai for the meeting but were kept waiting as n either RIL responded to their third letter written on June 25 nor anybody from their group turned up.

RIL later in a late evening statement said: “We have not completed the analysis of the implications of the (high court) judgment and the process of consultation of with legal advisers. We will decide upon further steps after competition of this process.”

No comments could be obtained from  RNRL officials.

The High Court had on June 15 given the two companies a month’s time to work out firm gas volumes, price, timelines and other commercial details for sourcing the fuel from the Krishna-Godavari basin fields. The court had also ruled that RIL should honour its commitment in the family split deal to supply gas to RNRL. The terms, as per the MoU which split the Dhirubhai Ambani empire, were to be based on RIL’s bid for NTPC tender.

The price in NTPC tender was USD2.34 per mn British thermal unit, 44 pc lower than Government approved rates of $ 4.20 per mmBtu.

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