Irreparable harm and injury’ being faced by RIL
It was recently informed by Reliance Industries (RIL) that it is facing "irreparable harm and injury." The blame for it is being put on a resource crunch caused by investments into the Krishna-Godavari basin.
The company said that if Anil Ambani group wins the case then RIL is ready to re-route gas to Anil Ambani group.
On Tuesday, RIL submitted a fresh affidavit to the Bombay High Court, in which it said, "The damage that will be caused by any further delay in gas production will be too large to be undone by any monetary awards from the Anil Ambani group later."
The affidavit, which was filed by B Ganguly, senior vice president of the company, also said, "Internal resources and accruals of appellants (RIL) have been used up in establishing the project at an investment in excess of $6 billion (Rs 29,000 crore). Any delay in recovery of gas and its sale would cause grave prejudice and irreparable harm and injury to the RIL."
It was informed by the company that in order to let the Ambani group to claim its share in the gas, RIL is ready to qualify all its gas sale agreements related to the D6 block, if in case the courts ruled in the younger brother's favor.