Gas row: NTPC arrangement cannot be equated with RIL and RNRL
The high-voltage legal battle on the gas row between the Ambani brothers today saw the Govt telling the SC that the arrangement for supply and pricing of gas for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
By PTI |
NEW DELHI: The high-voltage legal battle on the gas row between the Ambani brothers today saw the Government telling the Supreme Court that the arrangement for supply and pricing of gas for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
The Government stand was in response to the Anil Ambani-led RNRL's contention that it was entitled to receive the gas at $2.34 per unit from Mukesh Ambani group RIL which had entered into an arrangement for supplying gas to NTPC at that rate.
"The rights and obligation of NTPC and RIL cannot be regarded as similar in status to the private arrangement as in the case of RIL and RNRL because NTPC is not only a PSU but the process involved for price determination in the case of NTPC gas was by international competitive bidding," the government said in the affidavit.
However, RNRL said in the present affidavit government was compromising the interest of NTPC and taking a partisan view.
When the affidavit was placed before the Bench headed by Chief Justice K G Balakrishnan, RNRL's counsel Mukul Rohatgi said the affidavit did not speak anything about the price of gas at $2.34 per unit
He said Solicitor General Gopal Subramanium had made a categorical statement that the gas would be supplied at $2.34 per unit to the NTPC as a government nominee.
However, the present affidavit did not say so, he said adding that "this compromises the interest of the NTPC".
Refuting the contention, Subramanium said "we will protect the interest of the NTPC. The decision will be taken when the need arises".
The Government stand was in response to the Anil Ambani-led RNRL's contention that it was entitled to receive the gas at $2.34 per unit from Mukesh Ambani group RIL which had entered into an arrangement for supplying gas to NTPC at that rate.
"The rights and obligation of NTPC and RIL cannot be regarded as similar in status to the private arrangement as in the case of RIL and RNRL because NTPC is not only a PSU but the process involved for price determination in the case of NTPC gas was by international competitive bidding," the government said in the affidavit.
However, RNRL said in the present affidavit government was compromising the interest of NTPC and taking a partisan view.
When the affidavit was placed before the Bench headed by Chief Justice K G Balakrishnan, RNRL's counsel Mukul Rohatgi said the affidavit did not speak anything about the price of gas at $2.34 per unit
He said Solicitor General Gopal Subramanium had made a categorical statement that the gas would be supplied at $2.34 per unit to the NTPC as a government nominee.
ADVERTISEMENT
However, the present affidavit did not say so, he said adding that "this compromises the interest of the NTPC".
Refuting the contention, Subramanium said "we will protect the interest of the NTPC. The decision will be taken when the need arises".
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
