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Tuesday, September 1, 2009

Anil welcomes govt’s amended plea in SC

New Delhi: ADAG chief Anil Ambani on Tuesday welcomed the oil ministry's fresh application in the Supreme Court and said the government's role in the gas dispute between his RNRL and Mukesh Ambani's RIL now "remains limited only to the interpretation of the gas utilisation policy and the provisions of the production sharing contract''. 

    Claiming that this was same grounds on which the Bombay high court had allowed the government to intervene when the case was being heard by it, he welcomed the "effective legal steps'' to protect state-run generation utility NTPC "from potential losses of up to Rs 30,000 crore and preserving wider national and public interest''. 
    Describing RNRL's legal battle with RIL as "a purely commercial dispute between two corporate entities'', an 
RNRL statement said the matter related to implementation of the schemes for reorganisation of RIL's businesses in 2005, "as approved by its board of directors, over 20 lakh shareholders of RIL, and sanctioned by the Bombay high court, after receiving the government's no-objection''. 
    "RNRL welcomes the substantial amendments proposed by the government in the petition,'' the statement said and highlighted that the revised application states that: 
    the government does not intend to question the valid
ity and legality of the Ambani MoU; 
    it is no way concerned with the private dispute; 
    not seeking to get the private arrangement or the MoU declared null and void;
    NTPC's bid with RIL has always been kept out of the purview of the ministerial panel, and the price approved by this panel is not applicable to NTPC; 
    the approval of the price of sale of gas at $4.20 per unit in respect of KG D6 was without prejudice to the rights of NTPC in the pending suit filed by it against RIL.



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