Ambani Brothers Gas hearing starts in Supreme Court for final hearing from 20th October

·         When 2people fight one will be a winner and one loser but when one goes to court, one loser and one dead says old timer and now Asia 2most richest brother fight it out.

·         Many rumors and murmurs will go one as the case is non-stop and will be heard daily.

·         Last week Indian market gained as many felt some comprise can happen now line are drawn they want to fight it out.

Brothers at war: Ambani gas hearings must clarify policy http://in.reuters.com/article/businessNews/idINIndia-43212620091016

MUMBAI (Reuters) - Two of Asia's richest men, India's billionaire Ambani brothers, will slug it out next week in Delhi's sandstone Supreme Court in a row over gas pricing that highlights the political clout of powerful families and risks scaring foreign investors away from the energy sector. The Court will on Tuesday start hearing arguments in the case between Reliance Industries, headed by Mukesh Ambani, and Reliance Natural Resources (RNRL), led by estranged brother Anil, over a deal to sell gas to RNRL at below-market rates as per a 2005 family settlement. Mukesh wants the deal rescinded, other firms want gas from Reliance Industries' KG-D6 block at the same bargain price and the government wants the tax revenue that it would forego if the loss-making arrangement stands.

http://www.livemint.com/2009/10/19145841/Oil-industry-body-writes-to-PM.html  The apex body of oil firms has petitioned Prime Minister Manmohan Singh against Anil Ambani Group’s media campaign, saying it conveyed a distorted and negative view of doing business in India and sullying the industry and its achievements.

·         Supreme Court to commence final hearing on the high-profile gas dispute between the group firms of Mukesh Ambani and his younger brother Anil from October 20.

·         3-judge bench ready to take up Ambani case, Chief Justice KG Balakrishnan will preside over the bench, which will also comprise Justices P Sathasivam and BS Chauhan.

Barely 10 days before the case was to come up before the apex court, Anil, after a pilgrimage to two holy shrines, had sent a conciliatory message to Mukesh, saying there was ample scope to amicably end their dispute.

But Reliance Industries said the issue of pricing and supply of natural gas had now gone beyond a dispute between two companies and had to be resolved only by the courts.

http://www.businessworld.in/bw/2009_10_16_Ambani_Gas_Hearings_Must_Clarify_Policy.html Ambani Gas Hearings Must Clarify Policy

http://www.financialexpress.com/news/ambani-dispute-hurts-markets-says-pranab/507649/ The ongoing spat between the Ambani brothers over the pricing of natural gas will negatively impact domestic capital markets and the larger interests of industry and government, finance minister Pranab Mukherjee said.

http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4409#  Ambani vs. Ambani: A Dispute over Natural Gas Prices Flares Up

http://online.wsj.com/article/SB125177951575775119.html?mod=googlenews_wsj  BUSINESS CASE FACEOFF: Reliance vs. Reliance

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