Ambanis not ready for an out of court settlement

Written by: Super Admin
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New Delhi, Nov 10: According to various media reports, both Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) have rubbished reports that the Ambani brothers are ready for an out-of-court settlement.

While Anil Ambani-led RNRL termed the rumours as baseless and speculative, Reliance Industries counsel Harish Salve said that there was no question of a settlement.

"RIL was ready to sell gas to RNRL subject to availability and price. We can't wait for Dadri unit to comeup for gas output hike," Salve said on Tuesday, Nov 10, while presenting his argument to the Supreme Court bench hearing the case.

Following newspaper report suggesting that the Ambani brothers were ready for an out-of-court settlement, both the companies' shares surged in the early trade on the markets.

The supreme court is hearing the brothers' dispute over supply of gas to RNRL from D6 block in the KG basin of RIL.

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