Ambani brothers feud over gas sharing reaches SC

Ambani brothers feud over gas sharing reaches SC
PTI
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First Published: Sun, Oct 26 2008. 03 39 PM IST
Updated: Sun, Oct 26 2008. 03 39 PM IST
New Delhi: A petition has been moved in Supreme Court seeking vacation of stay granted by Bombay High Court, which restrained Mukesh Ambani-owned Reliance Industries from selling gas to any company other than Anil Ambani group and NTPC.
The petition filed in public interest by one B A Aloor, a practising advocate from Pune, alleged that the feud between two brothers is affecting people at large who are being deprived of “the most-efficient and environment-friendly fossil fuel”.
The matter is coming up for hearing on 10 November.
While challenging the High Court order dismissing its intervention application, the petition said vacation of stay would help early gas production from Krishna-Godavari basin.
Contesting the interim stay order, Aloor said the delay in using the gas from the RIL-controlled KG basin gas fields was against public interest, as the gas could be used as a cheaper alternate source of energy.
According to the petition, the national resources entrusted to private companies cannot be allowed to be wasted due to family feud and it casts an obligation on the company entrusted with the exploration of petroleum resources to consider national interests while discharging its duties.
“Natural gas found in the KG basin has not been produced to its optimum level due to family disputes between the Reliance group of companies... Some gas reserves could be lost permanently in the process,” the petition filed through advocate Rukhsana Chaudhury stated.
“The finding of natural gas in Krishna Godavari Basin is a watershed in the history of petroleum exploration efforts and the gas starved customers had been waiting for production of gas,” it stated, adding the gas supply had not kept pace with the surging demand.
If the huge deposits of natural gas in KG basin were fully utilised, the import from foreign countries of petrol, diesel and other products can be substantially reduced, the petition stated.
The Bombay High Court is, at present, hearing the ongoing case dispute over implementation of a gas supply agreement between RIL and RNRL on day-to-day basis.
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First Published: Sun, Oct 26 2008. 03 39 PM IST