Mukesh Ambani owned RIL, accused of being hand-in-glove with the ministry of petroleum of natural gas by Anil Ambani's RNRL, for the RIL for the first time on Tuesday admitted before the Supreme Court that the dispute over gas supply and pricing between the companies was benefiting the Centre.
the Mukesh Ambani group wanted to thrash out differences over the terms and conditions of the gas supply master agreement (GSMA) drafted pursuant to the family agreement, but RNRL went to the government saying RIL management was not to be trusted as they were crooks and pleaded for formulation of a gas utilisation policy (GUP).
When a Bench comprising Chief Justice K G Balakrishnan and Justices R V Raveendran and P Sathasivam asked whether any party, RIL or RNRL, had challenged the GUP, Salve said none had ever questioned it in a court. "The net result is that the government is a gainer in this fight. RIL had marketing freedom of gas. It lost it once the GUP came about. And RNRL thinks the GSMA did not meet the intention of the family agreement, though we say that it has been substantially complied with," Salve said.
Source: Economic Times
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the Mukesh Ambani group wanted to thrash out differences over the terms and conditions of the gas supply master agreement (GSMA) drafted pursuant to the family agreement, but RNRL went to the government saying RIL management was not to be trusted as they were crooks and pleaded for formulation of a gas utilisation policy (GUP).
When a Bench comprising Chief Justice K G Balakrishnan and Justices R V Raveendran and P Sathasivam asked whether any party, RIL or RNRL, had challenged the GUP, Salve said none had ever questioned it in a court. "The net result is that the government is a gainer in this fight. RIL had marketing freedom of gas. It lost it once the GUP came about. And RNRL thinks the GSMA did not meet the intention of the family agreement, though we say that it has been substantially complied with," Salve said.
Source: Economic Times
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