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Anil welcomes Govt`s proposed amendments to gas SLP

Last Updated: Tuesday, September 1, 2009 - 20:27

Mumbai: Welcoming the amendments proposed by
the government to its petition on the Ambani gas row, Anil
Ambani on Tuesday said his group company RNRL`s dispute with
Mukesh-led RIL was commercial and pertained to the demerger of
the Reliance businesses.

Shortly after the government moved an interlocutory
application in the Supreme Court saying it was not for
declaring the entire Ambani family MoU null and void, Anil
told reporters "RNRL is grateful to Government of India for
its neutral stand in proposing these amendments."

"With the filing of today`s application, the role of
government in RNRL-RIL matter remains limited only to the
interpretation of gas utilisation policy and provisions of the
Production Sharing Contract," he said, adding that "this is
exactly the same scope of intervention that was permitted to
the government by the Bombay High Court."

Anil also welcomed the steps taken to protect the
interests of NTPC from "potential losses of up to Rs 30,000
crore and preserving the wider national and public interest."

"RNRL-RIL gas matter is a purely commercial dispute
between two corporate entities, concerning the implementation
of the scheme of reorganisation of RIL`s businesses in 2005,
as approved by its Board... over 20 lakh shareholders and...
by the Bombay High Court," he said.

The government, however, also sought a direction to set
aside the High Court order on RIL-RNRL matter relating to the
interpretation of its gas utilisation policy and provisions of
the Production Sharing Contract.

Bureau Report

First Published: Tuesday, September 1, 2009 - 20:27
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