RIL gets 2-weeks time to amend statement in case against NTPC.

The Bombay High Court on Wednesday granted two weeks to Mukesh Ambani-owned Reliance Industries (RIL) to amend its written statement in a dispute with the government-owned NTPC over gas prices. The time was granted after the Supreme Court dismissed an NTPC petition, which challenged the amendment, on October 1. The amendment could include the government’s decision regarding gas supply and pricing policies, arrived upon by the empowered group of ministers. The government, in an affidavit submitted to the court earlier this year, with regard to a case between RIL and Anil Ambani owned Reliance Natural Resources, had said that gas should be supplied at not less than $4.20 per million British thermal units (mmBtu). The brothers are fighting a legal battle over supply of gas at a price similar to that being asked for by NTPC. NTPC claims that it has an agreement with RIL for gas supply at $2.34 per mmBtu. Last month, Supreme Court had allowed RIL to amend its petition so as to incorporate the government’s affidavit in the RIL-RNRL case. Justice Anoop Mohta, who is conducting the trial in the RIL-NTPC dispute, has also given one week’s time to NTPC to file a response to the amendment by RIL on the gas prices. The case will come up for further hearing on November 25. NTPC had moved SC challenging the high court’s decision allowing RIL to amend its petition to the effect that the government’s policy on pricing of gas would frustrate its contract to supply gas at a price of $2.34 per mmBtu it had quoted in a 2004 global tender.
SUDEEP SINGH
PGDM IIISEM
SEC-B