*Update on RNRL & RELIANCE Gas dispute moves to Supreme Court* *RNRL Moves Supreme Court Over Gas Dispute*
*MUMBAI (Dow Jones)--RNRL, Friday filed an appeal in India's highest court in its gas dispute with former group company Reliance Industries Ltd. "We have approached the Supreme Court against the last part of the Bombay High Court order wherein it has asked us to negotiate (with Reliance Industries)," RNRL's counsel Mukul Rohatgi told reporters. He said the court shouldn't have asked RNRL to negotiate with RIL after specifying the price, the quantity and the tenure of gas supply. The High Court June 15 directed RIL, to sell gas from its offshore D6 block in the Krishna-Godavari basin off eastern India to RNRL at $2.34 a million British thermal unit, 44% less than the government-recommended price of $4.20/mbtu. The court had upheld an earlier agreement signed by Mukesh Ambani and his estranged younger brother Anil Ambani, who controls RNRL, as part of a division of the family-run businesses in 2005. * *Please read complete article at: http://tanmaygopal.blogspot.com/2009/07/update-on-rnrl-reliance-gas-dispute.html * --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
