Bombay HC lifts interim stay on KG D6 gas sale

In the RIL-RNRL case, the Bombay High Court has lifted the interim order on sale of KG D6 gas till the final judgment is passed. RIL will be allowed to sell gas in the interim period at USD 4.2 per million British thermal unit (mmBtu). The judgement is expected by mid March. Mohan Parasaran-Government Lawyer said, “Now that the court has heard arguments of both the private parties that is Reliance and RNRL and has reserved judgment in both their appeals. As a purely intermediate measure the court has modified its earlier interim order which will enable gas which is to be produced from the end of February to be sold in accordance with the Government of India’s utilization policy. At the rate determined by the government namely USD 4.2 per MMBTU and any sale which has to take place will be without prejudice to the rights and contentions of both the parties in the present appeals as well as in the pending suit of NTPC. While entering into contracts Reliance will also be mentioning that those contracts will also be subject to the pending proceedings.”