The Bombay High Court in its operative judgement today asked Mukesh Ambani-promoted Reliance Industries (RIL) and Reliance Natural Gas Resource (RNRL), controlled by Mukesh's younger brother Anil Ambani, to renegotiate the dispute on the gas allocation from the Krishna-Godavari Basin.The court has asked the companies to hold the negotiations as per the MoU (Memorandum of Understanding) signed by the two brothers before. It said that the existing "gas supply master agreement" (GSMA) between RIL and RNRL is one-sided and favours Mukesh's RIL. The companies have to come back to the court in four months time with a report on the renegotiations. Meanwhile, the court has also restrained RIL from selling gas during the interim period of four months. The high court, in its order on June 20, had prevented RIL from creating any third party interest in its gas from the D6 block in the Krishna-Godavari basin as the peak production of 80 mcmd of gas is locked up with NTPC, RNRL and for RIL's captive use.The court had said NTPC would get first right to 12 million cubic metres per day (mcmd) gas from the block, while RNRL would get the next right to 28 mcmd of gas.
