Legal representative of Reliance Natural Resources (RNRL), a company of the Reliance Anil Dhirubhai Ambani Group (R-ADAG), today said that Reliance Industries (RIL), controlled by elder brother Mukesh Ambani, has not shown any interest in discussing the Krishna-Godavari (KG) basin gas supply issue with RNRL despite the Bombay High Court suggesting an out-of-court negotiations last month.
“I think Mukesh Ambani is not ready to talk. There has been no communication from his company since we proposed that Anil Ambani was ready to meet Mukesh Ambani any time, any place for ensuring a speedy resolution of the dispute,” Ram Jethmalani, counsel for RNRL, told reporters outside the Bombay High Court on Monday.
RIL could not be reached for comments.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL’s eastern offshore KG gas fields.
The case was adjourned abruptly on Tuesday with the news of a senior lawyer’s demise. Government counsel T S Doabia was slated to argue later in the day. He would present his arguments tomorrow. It is expected that Doabia would withdraw his statement that NTPC does not have a concluded contract with RIL.
According to the gas sale master agreement between the companies, RNRL is entitled to be supplied 28 million cubic metres of gas per day from the KG basin at a price of $2.34 per million British thermal unit (mBtu) for 17 years. RIL has refused to supply gas at that price.
However, Jethmalani reiterated that RNRL has the right to use the gas for trading purposes. “RNRL will sell the gas in line with the Government of India policy as is the case with RIL.
