HC asks RIL-RNRL to maintain status quo on gas contract

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Mumbai, May 6 (UNI) The Bombay High Court today asked Ambani brothers -- Mukesh and Anil -- to maintain the status quo on the gas contract and then adjourned the matter till July 22.

A division bench, comprising Justice J N Patel and Justice V M Kannade, directed Mukesh Ambani of Reliance Industries Limited (RIL) and Anil Ambani of Reliancee Natural Resources Limited (RNRL) to maintain status quo over the gas contract and adjourned hearing till July 22.

Both sides informed the bench today that there was no meeting point on two key areas -- the gas price and quantity of gas to be supplied by RIL to RNRL, as crude oil prices have skyrocketted.

It may recalled that the two brothers had signed a memorandum of understanding (MoU) for supply of gas. Meanwhile, crude oil price had gone up in the international market.

Earlier, the High Court had given them four months time to reach an agreement on a gas contract. It had also asked both the parties to exchange letters to maintain continuity in status quo.

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