The Reliance family is not satisfied with the terms of family memorandum of understanding (MoU). The Anil Ambani-controlled Reliance Natural Resources Ltd (RNRL) is planning to produce it in the Bombay high court. The family memorandum of understanding (MoU) was signed in 2005 and it is basis of the partition of the Reliance group.

Reliance Natural Resources Ltd and Mukesh Ambani’s Reliance Industries Ltd (RIL) are fighting with each other on Krishna-Godavari (KG) basin gas finding issue. A two-member bench of the Bombay high court directed to produce the document to check its legality.

Tata Motors will use a unique method to aggregate around Rs 4,200 crore. It will collect the money through two simultaneous and unlinked rights issues. The share holders of the company would be benefited by giving one share of both the issues for every six shares. The terms for right issues were cleared in the meeting of the Committee of Directors of the company on Tuesday.

An ordinary share would be issued at a price of Rs 305 per share of the face value of Rs. 10. It will help to aggregate Rs 1,961 crore for company.

Tata has fed up with the stiff agitations and violent demonstrations against its project at Singur. It has sent strong signals to the state government about the relocation of its small car project plant.

Tata is manufacturing world’s smallest car at Singur plant, which is expected to come in the market in next month. But, due to protests of various political and social groups the much awaited Tata cheap car ‘NANO’ may take more time to enter in the market. Some political parties are demanding back of the 400 acres of land which is acquired by state government for this project. TATA has already spent about Rs15bn ($338m) on the plant.

A new engine plant will soon start with its process of construction in Talegaon, in the western state of Maharashtra, as General Motors today signed an agreement regarding building it. The agreement was signed in presence of the Honorable Chief Minister of Maharashtra, Mr. Vilasrao Deshmukh and host of other dignitaries, between GM India President and Managing Director Mr. Karl Slym and Mr. A.M. Khan, Principal Secretary (Industries).

Beijing - US-based soft-drinks giant Coca-Cola Co said Wednesday that it had offered 2.4 billion dollars to buy China's Huiyuan Juice Group Ltd.

Coca-Cola said in a statement that it offered 12.20 Hong Kong dollars (1.56 US dollars) per share for Hong Kong-listed Huiyuan, or triple Huiyuan's last closing price of 4.14 Hong Kong dollars.

The takeover is subject to approval by Chinese regulators.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) has plunged to its lowest level since early April, according to OPEC data released on Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at 103.40 dollars Tuesday, 6.62 dollars less than 110.02 dollars on the previous day.

Markets were affected by the fact that Hurricane Gustav had mostly spared oil facilities, as well as by the stronger US dollar against the euro, Vienna-based energy analysts JBC said.