Reliance Natural Resources Limited counsel Ram Jethmalani continued his arguments yesterday despite the absence of Reliance Industries' counsel, Harish Salve.

Today he accused RIL of 'fraud' after having relied upon a complex formula to enhance its rate. Describing the formula as 'daylight robbery', he said that pricing was not a matter in the dispute as they had agreed to supply at $2.34 per unit.

Referring to the National Thermal Power Corporation dispute, now pending before the Bombay High Court he said that RIL had invited global tender at the rate of $3.18 per unit but now had fixed the price at $4.20. He argued that one cannot "create a policy on a retrospective basis". Venting his ire at the Empowered Group of Ministers, he said that their meeting for the valuation of gas did not contemplate the contract between RIL and RNRL or the contract between RIL and the NTPC.

Solicitor General Gopal Subramaniam, is filing an affidavit on the stand of the Government in the NTPC matter today. 

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