Gas Dispute: HC rules in favour of RNRL

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Anil Ambani and Mukesh Ambani
Mumbai, Jun 15: In the gas dispute case between Anil Ambani's Reliance Natural Resources Ltd (RNRL) and Mukesh Ambani's Reliance Industries Limited (RIL); the Mumbai High on Monday, Jun 15 passed a ruling that was in favour of RNRL.

With this win, RNRL will get assured supply of 28 mmscmd and the High Court has directed RIL to ensure gas supply to RNRL for 17 years at $2.34/MMBTU (million metric British thermal unit ).

Both the parties have been given one-month time period to complete the agreement. The court also said that the brothers can consult their mother, Kokilaben Dhirubhai Ambani if there was trouble with coming to an agreement.

Following this ruling, the RNRL stocks surged up to 18 per cent on the markets and Reliance Power gained 4 per cent while the Reliance Industries stocks went down by 3 per cent.

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