Ambani CBI Criminal Case Closed, Gas Price Doubled
Now that Mukesh Ambani and Anil Ambani don’t need Manmohan Singh after getting
Criminal Case dropped and Getting Double Gas Price than contracted even as
petroleum prices are down to $40 per barrel, they are now luring Narendra Modi
for their next con program.
Like a professional criminals they know Manmohan Singh can’t bite any more so
they decided to “Buy Narendra Modi Silence” on the twin issues.
In both cases consumers of India were and would be cheated.
Ravinder Singh
January16, 2009
CBI to close RCOM case
TOI Delhi January14, 2009 P-28
New Delhi: After spending three years probing if Reliance Infocomm masked
international calls as domestic ones through auto call-rerouting, the CBI
appears all set to close the case as it could not make any headway.
Though CBI spokesman Harsh Bahal said “matter was still under
investigation,” sources in the agency said a closure report had been finalised
as it was not possible for the CBI to probe into the case any further. After a
year-long preliminary enquiry, CBI registered a formal case in September 2006
against four top former officials of Reliance Infocomm (now renamed Reliance
Communications) and unknown BSNL officials for “masking” global calls as local
ones. PTI
Govt reverses stand on KG gas pricing for NTPC
STATE- RUN NTPC would not be allowed to buy KG- D6 gas at less than $ 4.20 per
million British thermal unit ( mmBtu), the union government told the Bombay
High Court on Monday.
The high court is hearing a dispute between Mukesh Ambani- led Reliance
Industries ( RIL) and Anil Ambani’s Reliance Natural Resources ( RNRL) over a
gas sale agreement, in which the government has intervened.
Additional solicitor general Mohan Parasaran told the court that NTPC will not
be allowed to buy gas at less than $ 4.2 per mmBtu as the power ministry will
have to go by the decision of the empowered group of ministers on the issue.
The power ministry has been backing NTPC as the power utility comes under the
administrative control. He also said that the gas should be sold as per the
marketing priorities as spelt out in the gas utilisation policy of the
government.
NTPC has filed a separate suit against RIL, seeking that RIL execute the
contract of gas supply. RIL, on the other hand claims that the contract with
NTPC was not formalised.
According to the NTPC- RIL contract, NTPC is due to get the gas from KG basin
at $ 2.34 mmBtu.
RNRL has also staked a claim to get the gas get the gas from RIL at the same
price as NTPC as part of the family settlement of the two brothers reached over
the division of the business empire earlier run by their father Dhirubhai
Ambani. The hearing in RIL- RNRL case will continue.
The government had suddenly decided to withdraw from the case between the two
brothers last month in order to expedite the proceedings so that a settlement
could reach earlier and the gas flows out of the field to the power plants and
fertiliser units.
HC asks govt to clarify stand on RIL gas pricing
Our Bureau MUMBAI ET January13, 2009 Delhi P-4
THE Bombay High Court on Monday asked the government to clarify the price at
which gas from Reliance Industries’ Krishna-Godavari basin off the east coast
would be sold to state-owned power generating company NTPC. The government will
file its reply on Tuesday.
A division bench of the court comprising Justice J N Patel and Justice K K
Tated asked for a clarification from government counsel Mohan Parasaran on this
aspect while hearing the legal dispute between Mukesh Ambani-led RIL and Anil
Ambani group firm Reliance Natural Resources (RNRL). The agreement between RIL
and RNRL was based on a similar contract between RIL and NTPC. The government
is an intervener in the RIL-RNRL case.
“NTPC has yet to come for government approval (for the NTPC-RIL gas deal).
We will ensure a level playing field,” Mr Parasaran said.
RIL had agreed to supply 12 million metric standard cubic meters per day
(mmscmd) of gas to NTPC at $2.34 per mmbtu for 17 years. The price is, however,
subject to government approval.
Mr Parasaran said the sale price of $4.2 per unit of natural gas from the KG
basin, which was determined by an Empowered Group of Ministers (EGoM), would be
applicable to all buyers, including government companies and private firms.
Reacting to Monday’s court proceedings, RIL counsel Harish Salve told ET:
“It’s good for us, if the court lifts stay and directs RIL to sell gas to a
government company. We can sell entire KG basin gas to Gail, for example, at
$4.2 per mmbtu. RIL’s $10 billion is stuck in the KG basin project. We need to
recover the money.”
If the EGoM decision on gas pricing turns out to be applicable to NTPC, the
country’s largest power producer may have to fork out $4.2 per mmbtu, almost
double of what it had agreed with RIL. This would translate a total loss of Rs
24,000 crore over 17 years. A press release from the EGoM issued on the day the
price of $4.20 was decided said the number was “without prejudice” to the
RILRNRL and RIL-NTPC court cases”.
NTPC is fighting a separate legal battle with Reliance Industries in the
Bombay High Court. NTPC’s allegation is that RIL did not honour the gas
agreement it had signed.
HC asks govt to clarify stand on RIL gas pricing
Our Bureau MUMBAI ET January13, 2009 Delhi P-4
THE Bombay High Court on Monday asked the government to clarify the price at
which gas from Reliance Industries’ Krishna-Godavari basin off the east coast
would be sold to state-owned power generating company NTPC. The government will
file its reply on Tuesday.
A division bench of the court comprising Justice J N Patel and Justice K K
Tated asked for a clarification from government counsel Mohan Parasaran on this
aspect while hearing the legal dispute between Mukesh Ambani-led RIL and Anil
Ambani group firm Reliance Natural Resources (RNRL). The agreement between RIL
and RNRL was based on a similar contract between RIL and NTPC. The government
is an intervener in the RIL-RNRL case.
“NTPC has yet to come for government approval (for the NTPC-RIL gas deal).
We will ensure a level playing field,” Mr Parasaran said.
RIL had agreed to supply 12 million metric standard cubic meters per day
(mmscmd) of gas to NTPC at $2.34 per mmbtu for 17 years. The price is, however,
subject to government approval.
Mr Parasaran said the sale price of $4.2 per unit of natural gas from the KG
basin, which was determined by an Empowered Group of Ministers (EGoM), would be
applicable to all buyers, including government companies and private firms.
Reacting to Monday’s court proceedings, RIL counsel Harish Salve told ET:
“It’s good for us, if the court lifts stay and directs RIL to sell gas to a
government company. We can sell entire KG basin gas to Gail, for example, at
$4.2 per mmbtu. RIL’s $10 billion is stuck in the KG basin project. We need to
recover the money.”
If the EGoM decision on gas pricing turns out to be applicable to NTPC, the
country’s largest power producer may have to fork out $4.2 per mmbtu, almost
double of what it had agreed with RIL. This would translate a total loss of Rs
24,000 crore over 17 years. A press release from the EGoM issued on the day the
price of $4.20 was decided said the number was “without prejudice” to the
RILRNRL and RIL-NTPC court cases”.
NTPC is fighting a separate legal battle with Reliance Industries in the
Bombay High Court. NTPC’s allegation is that RIL did not honour the gas
agreement it had signed.
