Form new pact, HC tells Ambanis

A Division Bench of Justices J N Patel and K K Tated said that the new agreement should be as per the Memorandum of Understanding (MoU) between the Ambani brothers Mukesh and Anil. The MoU stipulates that RIL would supply 28 mmscmd of gas to RNRL for 17 years at the rate of US$2.34 rpt 2.34 per million British Thermal Units. RIL lawyer Milind Sathe said though the new agreement will have to be as per the MoU, he would be able to comment on the verdict after seeing the full order. Filing appeal at the Supreme Court was one option, he added.

Sell gas to Essar, Ispat

Meanwhile, the Centre, has asked Reliance Industries Ltd to sell natural gas from its eastern offshore KG-D6 fields to steel firms like Essar and Ispat to help the country’s most prolific gas field to produce at an optimum level.

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