Ambani brothers ordered to make up

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The Ambani brothers and their booming Reliance Group were back in the spotlight in October when the Bombay High Court ordered the two brothers to renegotiate a controversial gas supply agreement.

The row between Anil Ambani’s Reliance Natural Resources (RNRL), which negotiates fuel supply contracts for associate Reliance Energy (REL), and Mukesh Ambani’s Reliance Industries has proven to be a major obstacle in the commercial exploitation of the Krishna-Godavari Basin gas project. The Krishna-Godavari gas find is one of the largest in India’s history.

At stake is the price at which RNRL will buy gas from Reliance Industries.

The ruling ordered Reliance Industries and RNRL to renegotiate the terms of the gas supply agreement in accordance with a 2005 Ambani family settlement. A January 2006 agreement was found to be in conflict with the 2005 settlement.

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