Online BusinessRIL using power firms to fight its gas battle: RNRL
Anil Ambani group firm Reliance Natural Resources (RNRL) today hit out at power companies GMR and GVK for raising the bogey of unfair price advantage to it, saying that they had got into gas deals with Mukesh Ambani-led Reliance Industries (RIL) knowing that the agreement was subject to the outcome of the RNRL-RIL case.
- Top 10 cos add over Rs 1.42 lakh cr - Declare Ambani MoU illegal, govt asks SC - UPDATE: Govt wants Ambani pact declared "null" & "void" - Govt sticks to utilisation policy - NTPC wants to pay marketing margins - Govt rejects Ambani family MoU that threatens its interests
Commenting on reports that GMR Group, Torrent Power and GVK Industries had approached the government complaining that unfair price advantage to the ADAG firm will kill competition, RNRL counsel Mahesh Agarwal said, "They are citing the RIL battle or in other words, RIL is using them to fight its own battle."
RIL and RNR have filed cross-appeals in the Supreme Court challenging the Bombay High Court decision and the apex court will hear the case tomorrow.
The power companies had voiced concerns that gas supply from RIL"s KG-D6 fields would be impacted if the fuel is to be diverted to RNRL at lower rates.
"GMR and GVK signed agreements with RIL based on the Bombay High Court order and that provides that gas supply is subject to the outcome of the RNRL-RIL case," Agarwal said.
He said that the Ministry of Petroleum had suggested to the High Court that pending the dispute, gas could be supplied to others and the same was accepted.