New Delhi, May 7: The long legal battle between the Ambani brothers came to an end on Friday, May 7 with the Supreme Court ruling in favour of the Mukesh Ambani and his Reliance Industries Limited (RIL).
Supreme Court made it clear that RIL does not have absolute marketing right over gas and therefore the price was subject to government approval.
The court also held that the family agreement or MoU signed between the brothers in the presence of their mother, Kokilaben, was not technically binding as million shareholders of RIL-RNRL did not know its contents.
Mukesh and Anil Ambani have been fighting the battle for three and a half years over the pricing of gas from RIL to Anil Ambani's Reliance Natural Resources Limited (RNRL).
The apex court ruling comes as a huge set back to Anil Ambani as Mukesh Ambani has always wanted to supply gas at government approved rate, while Anil debated that his elder brother was violating the 2005 family agreement.