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Anil Ambani firm asks court to dismiss government stand on gas dispute

Category :India Sub Category :National,Business
2009-07-18 00:00:00
   Views : 499

'

The hearing on the case is slated for Monday.

Reliance Industries had moved the apex court challenging the Bombay High Court order, which asked it to supply gas to Reliance Natural Resources at $2.34 per unit.

In its appeal, the company said the high court had erred in deciding the three terms of the contract -- quantity, tenure and price -- when asked to supply natural gas from the Krishna Godavari basin near the Andhra Pradesh coast, to Reliance Natural Resources.

The company also named the government as an intervener in its lawsuit.

Anil Ambani's company has also contended that Reliance Industries was trying to depict the dispute as one between their firm and the government rather than one between the two companies, adding the government actually has little role to play in it.

'Since the government does not receive any part of the proceeds of the sale of gas by Reliance Industries from its share of gas, there is no revenue implication to the government in the present dispute,' the company said in its reply.

'The sale of gas is from Reliance Industries' share over which it has complete marketing freedom.'




Author :Indo Asian News Service



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