Anil's camp raises issues including pricing of Gas
Sunday, December 12 2004 19:53 Hrs (IST) - World Time
New Delhi:
Stepping up its pressure on the other side, Anil Ambani camp today (Dec 12, 2004) released a letter written by two independent directors of Reliance Energy Limited (RIL) headed by him raising a number of issues including availability, quantum and pricing of gas for the power project in Dadri and about the promised investment from Reliance Industries Limited (RIL) headed by Mukesh Ambani.
Spotlight: Battle of Ambanis
The Dec 4, 2004 letter written by Gen V P Malik and Leena Srivastava on behalf of the REL Board expressed full confidence in the existing management led by CMD Anil Ambani and asked RIL Board for its views on certain issues.
The issues included continuation of five RIL nominees --- Anil Ambani, Satish Seth, J P Chalasani, S C Gupta and Amitabh Jhunjhunwala on the REL Board till their term of 2008.
It also sought confirmation from RIL Board on the availability, quantum and pricing of gas from RIL's KG-D6 fields for REL's 3,740 MW power project at Dadri in Uttar Pradesh.
It also sought a commitment on availability of technical, project and other resources from the Reliance Group for implementing REL's growth plans like for Reliance Group companies.
Discuss this topic
Releasing the letter, REL sources asked why the letter has not been acknowledged by RIL after more than a week and wanted to know is any RIL Board meeting proposed to be held to discuss the letter.
PTI
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