Subscribe to the BlogIndian Supreme court has finally given the verdict for the row of dispute that Reliance Industries limited (RIL) and Reliance Natural Resources Ltd. (RNRL) have been having on gas pricing, which has been going on for more than five years. The verdict was in favor of Reliance Industries Limited. The RIL and RNRL are owned by the brothers of Ambani family – Mukesh Ambani and Anil Ambani. The brothers had dispute over sharing of the wealth and businesses, built by their father Dhirubhai Ambani. Mukesh Ambani is the richest businessmen in India.
The court gave the verdict that they must renegotiate a deal over the country’s largest gas field, effectively giving government to control gas prices. It would nullify the previously signed agreements including Memorandum of Understanding.