The Bombay High Court directed Reliance Industries to supply gas to a former group firm at about half the government-approved price, sending its shares sliding more than 7 percent.
The Bombay High Court on Monday asked Reliance to supply 28 million metric cubic metres a day for 17 years at $2.34 per million metric British thermal unit to Reliance Natural Resources, Mahesh Jethmalani, a lawyer for Reliance Natural, said.
On Jan. 30, the court had issued an interim order saying Reliance Industries was allowed to sell gas at government- approved price of $4.2 per million metric British thermal units from its KG-D6 block in the Krishna Godavari basin, off eastern India.
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