SC AMBANI 3LST

The Supreme Court held the family MoU as technically not
binding on the ground that three million shareholders of
RIL-RNRL did not know its contents. The MoU was only among the
two brothers and their mother Kokilaben.
When the courts were hearing the matter last year, Anil
Ambani had launched public tirade against Mukesh, saying his
elder brother had traded their father Dhirubhai's vision for
"corporate greed."
He had then also said that Mukesh no longer saw a role for
their mother Kokilaben in resolving the gas dispute.
The public wrangling also included defamation suit filed
by Anil against Mukesh, and Mukesh opposing Anil group firm
RCOM's bid to merge with South African telecom giant MTN.
All this happened when the gas supply battle was playing
out in courts.
The apex court Friday said since gas is a national asset,
public interest has to be looked into first.
"Terms of production sharing contract (between government
and contractor RIL) will have over-riding effect," the court
said, adding that the PSC is meant for regulating supply of
gas and under PSC it's for the government to evaluate price of
fuel. PTI RKS
RBT


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