Reliance Industries Ltd. (RIL) spearheaded by Mukesh Ambani displayed concern and condemned the allegations made by a Telugu TV Channel in lieu of Y S Rajasekhara Reddy’s helicopter crash. Mukesh Ambani’s RIL made a statement today stating that the allegations are baseless, “false” and “malicious”.
Reliance Industries said in the statement, “We are shocked and outraged at the false, malicious, motivated and libelous news on TV-5 channel, concerning the fatal mishap of Reddy’s helicopter. We condemn, rebut and reject the allegation with the contempt it deserves.”

Reliance further stated that the accusations were the “dirty handiwork of our business rivals in cohoot with TV-5”. RIL also pointed towards the “well coordinated attacks on RIL’s personnel and establishments in Andhra Pradesh” that followed the telecast on TV-5.

Source: http://ril.com/downloads/pdf/PR08012010.pdf

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Reliance Group’s counsel Harish Salve made this assertion before the three-member bench of Chief Justice K.G. Balakrishnan, in his counter-arguments in the reliance gas dispute with Reliance Natural Resources Ltd (RNRL) over gas supplies from the Krishna-Godavari basin.

“If I challenge the gas utilization policy and the court says ‘sorry, you do not have the power’, the government will discover the power elsewhere,” Salve told the bench, which includes Justice B. Sudershan Reddy and Justice P. Sathasivam.

“The government is opening various sectors to private players. If we do not behave responsibly, we may earn profit for 15 days, but will eventually be out of business.”

“The only suitable agreement for supply of gas to the REL’s Dadri power plant is supply of gas under the gas utilization policy and at the price arrived at as per the formula approved by the empowered group of ministers,” he said.

This decision by the ministerial group is applicable to all the gas produced by Reliance, Salve said, adding this compelled his client to supply gas to specific customers, in defined quantities and at the notified price.

The government has also specified that a firm commitment on gas supplies can be made only for five years, based on the ministerial panel’s recommendations, he said.

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