RNRL

The Supreme Court has ruled in favour of Mukesh Ambani-promoted Reliance Industries Limited (RIL) in its battle against Anil Ambani-controlled Reliance Natural Resources Limited (RNRL).

The bench decided two-to-one that the private memorandum of understanding (MOU) between the brothers was not binding on the companies, the shareholders or the Government, according to preliminary media reports, and that RIL and RNRL will have to renegotiate the prices of the gas supply agreement that has been subject of the dispute.