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Monday, May 10, 2010

KUTOKA UDOSINI-INDIA- Indian billionaire Anil Ambani

In what could be a severe blow to Anil Ambani group seeking cheap gas from elder brother Mukesh-led RIL, the Supreme Court ruled that the government has the last word on pricing and utilisation of national asset. And the Supreme Court ordered the feuding brothers to renegotiate the gas contract between Reliance Industries and Reliance Natural.
Indian billionaire Anil Ambani, right, waits at the gate of the Supreme Court as he enters to hear the verdict on a closely watched case against his elder brother Mukesh Ambani over the price of natural gas from India's largest known deposit in New Delhi, India, Friday, May 7, 2010. Shares of Reliance Industries shot up after reports that the court ruled in its favor Friday in the long-running family feud. (AP Photo/Saurabh Das)

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