Supreme Court of India will decide fate of Mukesh and Anil Ambani today

New Delhi May 07, 2010

The Supreme Court of India on Friday will decide fate of Mukesh Ambani and Anil AmbaniAnil Ambani on Friday may 07, 2010. The Supreme court of India will give judgement on the dispute between Reliance Industries Limited (RIL) of Mukesh Ambani and Reliance Natural Resources Limited (RNRL) of Anil Ambani over the supply of gas from the Krishna-Godavari basin.

Both Mukesh and Anil Ambani had a bitter quarrel regarding a contract between two brothers. It is to be noted that Reliance industries, founded by Indian industrial conglomerate Dhirubhai Ambai was divided between his sons Mukesh Ambani and Anil Ambani. Both the brothers are bitter rivals since then.

Bombay High Court order had directed RIL to supply 28 million standard cubic metres of gas per day to RNRL at $2.34 per million British thermal unit in accordance with the MoU signed between the Ambani brothers.The judgement was in favor of RNRL of Anil Ambani.

Mukesh Ambani challenged the judgement in the apex court that will decide on the matter.

The Supreme Court judgement is very crucial for Indian corporate world. Bombay stock Exchange brokers are stiring at the judgement. Stock prices of both companies are highly dependent on the judgement. Both the stocks (Shares) and the Sensex are highly vulnerable at this point.