RNRL wants to be party to NTPC-RIL gas price dispute
14 Sep 2009
The Anil Ambani led Reliance Natural Resources Ltd (RNRL), which is fighting an ongoing court battle with the Mukesh Ambani group's Reliance Industries Ltd, is now trying to find common cause with state-run National Thermal Power Corporation Ltd (NTPC), which has moved court against RIL reneging on an earlier pricing agreement.
RNRL, which is clinging to a family agreement to settle the issue of pricing natural gas to be allocated to it from RIL's gas fields in the east coast of India, now says there are common issues in RNRL and National Thermal Power Corporation's (NTPC) cases against Reliance Industries (RIL).
The company also wanted the pricing of gas to NTPC and RNRL to be out of the purview of the government-appointed Empowered Group of Minister's (EGoM).
RNRL said RIL was trying to wriggle out of commitments to both NTPC and RNRL on the pricing issue and was abusing the process of law to frustrate both NTPC and RNRL by delaying the implementation of their respective power projects.
