RIL-RNRL begin talks to strike a gas supply pact

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RIL-RNRL begin talks to strike a gas supply pact
New Delhi, May 19: After the Supreme Court verdict put an end to the Ambani brothers battle over the pricing of the KG basin gas, the Mukesh Ambani-led Reliance Industries Ltd (RIL) and Anil Ambani's Reliance Natural Resources Ltd (RNRL) began talks for a possible gas supply agreement.

"Two top officials of RIL and Anil Dhirubhai Ambani Group on Tuesday held preliminary discussions on a possible settlement of the gas dispute," a source told a news agency.

However, neither RIL or RNRL were ready to confrim the reports on the beginning of informal discussions.

The Supreme Court delievered its final verdict in the three and a half year long battle of the industrial giants on May 7. The ruling came in the favour of Mukesh Ambani as the apex court held that the gas will be sold on the prices set by the government as the gas, like all natural resources belonged to it.

With this, RNRL's assertion that RIL, must sell gas at the rate set in the family MoU was squashed.

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