The Anil Ambani-led Reliance Natural Resources Ltd (RNRL) on Tuesday welcomed “the substantial amendments proposed by the Government of India (GOI) in the Special Leave Petition (SLP) filed by it before the Supreme Court in the RNRL-RIL gas matter”.
“With the filing of today’s [Tuesday’s] application, the role of the Government in the Reliance Natural Resources-RIL matter remains limited only to the interpretation of two issues: the gas utilisation policy and the provisions of the production sharing contract,” said Mr. Anil Ambani, while addressing a press conference here.
“This is exactly the same scope of intervention that was permitted to the Government by the Bombay High Court,” he added.
RNRL also welcomed the “effective legal steps taken by the Government to protect the interests of its navratna NTPC, thereby protecting NTPC from potential losses of up to Rs. 30,000 crore and preserving the wider national and public interest”.
“RNRL-RIL gas matter is a purely commercial dispute between two corporate entities, concerning the implementation of the scheme for reorganisation of RIL’s businesses in 2005, as approved by the board of directors, the over 20-lakh shareholders of RIL and sanctioned by the Bombay High Court, after receiving the no objection of the Government,” he added.