Reliance saga And the show will go on till November 17

Reliance Industries Limited (RIL) counsel Harish Salve and Reliance Natural Resources Limited (RNRL) counsel Ram Jethmalani (pictured), spent the day trading jibes at each other at the hearing yesterday. Harish Salve argued that the 2005 Memorandum of Understanding was an arrangement between the brothers, and neither did the RIL board or shareholders approve the MoU..Reliance Industries Limited (RIL) counsel Harish Salve had informed the court that he is likely to finish his arguments on today in the dispute with Reliance Natural Resources Limited (RNRL). In addition to being heard every Tuesday, Wednesday and Thursday, the matter will hence also be heard every Friday. Additional Solicitor General, Mohan Parasaran is expected to argue on November 13, and Jethmalani, appearing for RNRL is supposed to commence his arguments on November 11, and finish six days hence..The government has, yet again, been at the receiving end. In a fresh affidavit filed yesterday, objecting to the admission of SLP filed by the Ministry of Petroleum and Natural Gas, RNRL alleges that the stand of petroleum ministry in this case is “dishonest and collusive”. The affidavit alleges that the petroleum ministry had filed a false affidavit before the Bombay High Court and withdrew them afterwards due to fear of cross examination. RNRL alleges that the increase in capital expenditure by RIL from Rs 10,000 crore to Rs 36,000 crore for enhancing gas production from 40 to 80 mmscmd was artificial and only to make it unaffordable to the fertilizer and power industries..Earlier, Salve addressed the media and categorically denied settlement talks between the brothers as reported by a section of the media.