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Asian markets end in the red
The Hang Seng has dropped 348 points to 22,423 and the Nikkei has declined 96 points to 9,401.

'NTPC claim has no bearing on gas dispute'
The Union government has told the Supreme Court that the rights and obligations of NTPC and RIL could not be regarded as similar in status to the private arrangement between RIL and RNRL. In an affidavit filed yesterday in the appeals by the Ambani brothers on their gas dispute, the government stressed that NTPC “is not only a public sector undertaking but the process involved for price determination in the case of NTPC gas was by international competitive bidding.”

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The battle for Bourbon
Parle"s looking to bite into Britannia"s Bourbon biscuit market.
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RNRL asks SC to dismiss govt's petition on RIL gas

Anil Ambani group company Reliance Natural Resources Ltd (RNRL) has asked the Supreme Court to dismiss the government’s special leave petition (SLP) on the Ambani gas dispute, saying it had no legal standing to seek any orders and could, at best, only make submissions. - Israel warns of terror attacks - SEC backs ban on flash trading - ArcelorMittal sponsors 78 for ITI training - At your service - Sunil Sethi: Goa"s monsoon sosegade">Sunil Sethi: Goa"s monsoon sosegade - ASCI announces new board “An attempt is being made (by the government) to reintroduce allegations that were withdrawn before the Bombay High Court (where the case was heard and decided earlier, in RNRL’s favour). This is clearly impermissible,” said the RNRL affidavit, which counters the government’s SLP that is to be heard with related matters on October 20. The government’s SLP, filed in July to assert its right on gas from Mukesh Ambani-led RIL’s Krishna-Godavari basin fields, is “therefore misconceived and liable to be dismissed,” RNRL said. The government had earlier this month modified its SLP, seeking to make a distinction between legal disputes involving RNRL and those on NTPC Ltd (which also has a case against RIL).


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