"There would be no impact on the government at all and it would suffer no loss whatsoever. RIL would also make a profit of Rs 30,000 crore (Rs 300 billion) at this rate," RNRL said in an affidavit before a bench headed by chief justice K G Balakrishnan.
As our planet depletes natural resources at a frantic pace, one brand of alchemy that will become critical to humanity's survival is technology that turns sea water into drinking water.
Senior United Nations experts have said that lack of investment in agriculture over a long period of time and the use of precious natural resources for bio-fuel production have also contributed to the current food crisis. The use of crops for bio-fuel production had also contributed to the worldwide rise in food prices, since it meant that a part of our natural resources had to be diverted away from the production of food crops. The experts were talking in a conference in NY.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Cultivate a thirst for knowledge, explore online courses, attend workshops and network with peers. Embrace opportunities to learn new skills and stay updated about industry trends to remain relevant and future-proof your career, advises Manu Saigal, director-general, staffing, Adecco India.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC.
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
Lawyer T S Doabia told the court the government's approval was necessary for the rate at which RIL sells the gas to other private parties. The division bench of Justices J N Patel and K K Tated pointed out that, according to RNRL, the government stated in Parliament it would not be fixing the gas price, except for its own share. When told this was not contrary to what Doabia was saying, the court asked him to file an affidavit, clarifying the government's position.
The main issue in the case is terms of Gas Supply Master Agreement whereby Mukesh Ambani-led RIL is to supply natural gas from its Krishna Godavari reserves to Anil Ambani's RNRL. Both parties have filed appeals before division bench, not satisfied with single judge's verdict last year.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
Gas production from the country's biggest gas block is less than a year away, but Reliance Industries (RIL), operator of the block in the Krishna-Godavari basin, and Reliance Natural Resources (RNRL), the biggest buyer of gas from the block, have not made headway on renegotiating the sales agreement.
With the AIM (Alternative Investment Market) becoming increasingly popular as a fund raising destination, Indian companies are flocking to tap the opportunity provided by this sub-market of the LSE.
Mukesh Ambani's Reliance Industries Ltd is taking the Bombay High Court order of June 15 on gas supply to Anil Ambani's Reliance Natural Resources Ltd to the Supreme Court."We have been advised to and are filing appropriate proceedings in the Supreme Court against the judgment delivered by the Bombay High Court," it told RNRL in a mail, in reply to an earlier letter sent in the day by the former, demanding that the HC judgement be implemented without more delay.
Petroleum secretary RS Pandey declined to comment on the court verdict till the Government received a copy of the order. The Bombay high court on Monday upheld Anil Ambani group firm Reliance Natural Resources Ltd's contention to buy 28 mscmd of gas from Reliance Industries Ltd at USD 2.34 per mmBtu for 17 years.
NTPC, India's largest thermal power operator, said it will stay away from the ongoing Reliance Industries and Reliance Natural Resources case in the Bombay high court over the supply of KG Basin gas.
A division bench of Justices J N patel and K K Tated was hearing a case regarding the dispute between Anil-led Relaince Natural Resources Ltd and Mukesh's Reliance Industries Ltd over the gas supply master agreement (GSMA) whereby RIL will be supplying gas for RNRL's power plants.
The health benefits of a glass of red wine have since long been known, but now fans of the fruity tipple may have even more to cheer about, with a study finding that it is capable of protecting humans from common food-borne diseases.
With the stock markets being on a downturn for most part of the year, many asset management companies (AMCs) are sitting on huge piles of cash or cash equivalents, with some equity-oriented funds holding as much as 40 per cent of their assets in cash, a Crisil report pointed out.
Its goodbye to Coke and Pepsi at the Banaras Hindu University campus in Varanasi. The university has banned these drinks on its campus from August 1, 2007.
"I stand with the last person in the line. The exploited, marginalised and the persecuted. Their religion, caste or beliefs matter little to me," Gandhi said.
Indian companies have been permitted to invest in excess of 400 per cent of their networth in energy and natural resources sectors, such as oil, gas, coal and mineral ores.Investment in excess of 400 per cent of the networth will, however, need prior approval, the central bank said in a statement on Tuesday. The overseas investment up to 400 per cent of networth is under the automatic route.
It might not have sunk in as yet, but the frenetic building activity going on all over the country could have really serious environmental consequences.
The release of water from the Chungthang dam led to a sudden increase in water levels up to 15-20 feet high downstream, defence spokesperson Lt Col Mahendra Rawat said.
The term peak oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion. Cumulative production is the sum of all oil that has ever been produced until a specific date. Cumulative production can be given for a field, oil basin, country or the world. Decline rate refers to production only. Depletion differs from the decline rate as it takes into account the amount of oil left.
He said that "the state of the border will determine the state of the relationship, that's natural".
In a major relief to Mukesh Ambani-led Reliance Industries Ltd, the Bombay High Court Friday allowed the sale of gas from the Krishna-Godavari basin at $4.20 per million British thermal unit (mBtu) and reserved final judgment on a case brought by Anil Ambani-run Reliance Natural Resources Ltd.
Anil Ambani group firm Reliance Natural Resources Ltd said on Wednesday it will raise $300 million through issue of Foreign Currency Convertible Bonds in the international market.
The MoU says the gas supply agreement is with Reliance Energy and for the Dadri power project, senior counsel Harish Salve representing RIL said. "Nowhere does it say that the gas will go to RNRL," Salve told the division bench of Justices J N Patel and K K Tated. REL and RNRL are both Anil Ambani group companies.
The crux of the ongoing court case between Reliance Industries (RIL) and Reliance Natural Resources (RNRL) on Monday was pricing of the gas produced from the Krishna-Godavari (KG) basin.
The Ambani brothers are not yet ready to bury the hatchet. Legal counsels of both the parties say they are ready to fight it out in the court next week. The case is scheduled to come up for hearing on 12 January.
After having raised Rs 20,000 crore by selling NFOs, mutual funds are now likely to turn buyers. A slew of funds, including Morgan Stanley ACE Fund, Birla Sun Life Pure Value Fund, Mirae Asset India Opportunities Fund Standard Chartered Fund closed recently. Mutual funds launch NFOs to raise money since the mutual fund penetration in India is low. Most mutual funds expect redemptions on account of advance tax provisioning that corporate houses do at this time of the year.
Anil Ambani-controlled Reliance Natural Resources Ltd and Reliance Communication Ventures Ltd on Friday said they have got shareholders'
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
Close on the heels of Mukesh Ambani's Reliance Industries seeking coal mines to convert coal into oil, younger brother Anil-run Reliance Natural Resources has applied for coal blocks to turn coal into gas. Reliance-Anil Dhirubhai Ambani Group (R-ADAG) president J P Chalasani in a January 14 letter to Coal Secretary H C Gupta sought allocation of "captive coal blocks for the purpose of converting coal to gas."
Anil Dhirubhai Ambani Group on Wednesday announced the process for listing of the four new companies, which were transferred by Mukesh Ambani group to them on Tuesday, will begin next week.
India Monday reiterated its support to the right of the Iraqi people to freely determine their own political future and exercise control over their natural resources.
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