INSTANT VIEW: India court rules in Reliance Industries favor

MUMBAI (BestGrowthStock) – India’s top court on Friday ruled in favor of billionaire Mukesh Ambani’s Reliance Industries (RELI.BO: ) in a gas-pricing dispute with younger brother Anil’s Reliance Natural Resources (RENR.BO: ), making the price fixed by the government as binding.

The ruling closes a chapter on a high-profile battle that could set the tone for the country’s policy on gas pricing.

The case involves terms of a deal under which Mukesh Ambani-led Reliance Industries (RELI.BO: ) was to supply Anil Ambani’s Reliance Natural (RENR.BO: ) with 28 million standard cubic meters a day (mmscmd) of gas for 17 years at a rate below the government price.

Analysts have raised concerns the dispute is putting off foreign investors, with government interference in the pricing and marketing of gas raising investment risk in a politically sensitive resource.

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INSTANT VIEW: India court rules in Reliance Industries favor