supreme court
May 9, 2010 by Trend PK
Filed under World News
Obama’s Supreme Court Pick
The Supreme Court on Friday upheld the government’s sovereign right over the nation’s natural resources that include natural gas to give its judgement on India’s most high stake corporate battle between the Ambani brothers. The verdict said no private arrangement like the MoU drafted by the brothers on sharing of the gas from the D6 KG basin gas can override government policy,
thus establishing the validity of the $4.20 per mmBtu price set by a group of ministers and contested by the Anil Ambani-led RNRL (RNRL.NS : 52.65 -15.7) as too high. A majority of the three-member Bench headed by Chief Justice KG Balakrishnan also said the MoU for separation of family business was not legally binding on Reliance Industries (RELIANCE.NS : 1032.8 +24.95), headed by elder brother Mukesh Ambani.
The court asked the brothers to renegotiate a fresh deal for gas supply to Anil Dhirubhai Ambani (ADAG) group’s Reliance Natural Resources (RNRL) at RIL’s initiative within 14 weeks.
Post-judgement, while Mukesh Ambani-led Reliance Industries closed with a gain of 2.27% at Rs 1,033.85 on the Bombay Stock Exchange (^BSESN : 16769.11 0), shares of Anil’s Reliance Natural Resources dropped 22.82% to end the day at Rs 52.75. Analysts saw the verdict as a setback to the Anil Ambani group and especially group company Reliance Natural Resource which will be left with no gas to sell to its sister concern, Reliance Power which is building a Rs 25,000-crore plant at Dadri in Uttar Pradesh.
Interview Lady Gaga Jay Leno
November 24, 2009 by Trend PK
Filed under World News
Full Story And Original Content. TrendPK.com Interview Lady Gaga Jay Leno:Well, I must say it was a terrific interview. Lady Gaga was wearing a black colored dress at Jay Leno and every question was superbly tackled so that audiences were just out of themselves.
Full Story And Original Content. TrendPK.com Interview Lady Gaga Jay Leno:Well, I must say it was a terrific interview. Lady Gaga was wearing a black colored dress at Jay Leno and every question was superbly tackled so that audiences were just out of themselves. Jay Leno kicked it off by Complimenting her on her achievement during 2009 [...]
Bombay Stock Exchange Looks To List, Innovate
November 24, 2009 by Trend PK
Filed under World News
Full Story And Original Content. TrendPK.com Bombay Stock Exchange Looks To List, Innovate:The Bombay Stock Exchange (BSE), under the aegis of its youngest-ever chief executive and a new top team, is looking to list and innovate to win back lost market share to upstart rivals. “We want to transform this institution from what was essentially a single-product exchange
Full Story And Original Content. TrendPK.com Bombay Stock Exchange Looks To List, Innovate:The Bombay Stock Exchange (BSE), under the aegis of its youngest-ever chief executive and a new top team, is looking to list and innovate to win back lost market share to upstart rivals.
“We want to transform this institution from what was essentially a single-product exchange [...]
