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The Supreme Court, which was hearing the dispute of gas supply by RIL to RNRL from the Krishna - Godavari basin, asked the Ambani brothers to solve the issue by means of arbitration or mediation.
Chief Justice K G Balakrishnan, who was hearing the dispute, mentioned that a "suitable arrangement" can be arrived by means of arbitration. The Bombay High Court has also called for the same.
But Mukesh Ambani-run RIL mentioned that any decision by government regarding the gas utilisation and pricing will be considered as a "suitable arrangement."
Senior counsel Harish Salve also opposed RNRL's plea for dismissing RIL's petition, mentioning that the maintenance of the petition can be challenged by his client. He also added that RNRL cannot ask the government to dismiss the plea filed by RIL.
The Ambani gas dispute started with RNRL demanding gas from RIL to be supplied at supplied 28 mmscmd at a cost of $2.34 per mmBtu, which was agreed in a 2005 family MoU.
But according to RIL, it will not agree to it as government had set up $4.20 per mmBtu as the cost for gas extracted from KG-D6 fields in 2007.
