Supreme Court of India today on 7.5.2010 pronounced judgment in the much awaited Reliance case titled as "Reliance Natural Resources Ltd. vs Reliance Industries Ltd. and others" SLP (Civil) No. 14997/2009 (the arguments in this case were over and matter was reserved for orders on 18.12.2009). The Supreme Court ostensibly rejected the petition of Anil Ambani led Reliance Natural Resources Ltd. petition and upheld the order of Bombay High Court. The Court held that family MoU is not binding and directed RIL and RNRL to renegotiate Production Sharing Contract (PSC) within 6 weeks and to submited the renegotiated contract to the Company Court.
For the text of the judgment, you may kindly email me at sg@sgsolicitors.com
