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SC sets 1 Sept hearing in Reliance gas dispute

SC sets 1 Sept hearing in Reliance gas dispute
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First Published: Mon, Jul 20 2009. 01 05 PM IST
Updated: Mon, Jul 20 2009. 01 05 PM IST
New Delhi: The Supreme Court on Monday scheduled its next hearing in the dispute between Reliance Industries and Reliance Natural Resources over a gas supply agreement for 1 September.
Top Indian conglomerate Reliance Industries, headed by billionaire Mukesh Ambani, and Reliance Natural, led by estranged brother Anil, have been fighting over terms of a gas-supply agreement struck when the Reliance empire was split in 2005.
The Union government made a petition over the weekend to intervene in the case, arguing that the gas is its property and that the private agreement between the Ambanis over the gas is not valid.
The court on Monday said it would club all petitions and applications in the case together, according to Ram Jethmalani, a lawyer for Reliance Natural.
“The court said it wants to hear the case with three judges so it set 1 September as the next date. There were no observations, no directions,” Jethmalani said after the hearing.
The Bombay high court ruled last month that Reliance Industries should supply gas to Reliance Natural at $2.34 per million metric British thermal unit (mmBtu) -- nearly half the $4.20 price in an interim court order in January.
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First Published: Mon, Jul 20 2009. 01 05 PM IST