National Thermal Power Corporation Ltd has charged Reliance Industries with creating 'mischief' by substituting words to give an impression as if the $6.6-billion-deal to supply gas from RIL's KG Basin fields was not concluded.
RIL "has sought to create mischief by substituting words... There exists a valid, concluded and binding contract between the parties for supply of natural gas of 132 trillion British thermal unit annually for a period of 17 years," NTPC said in an affidavit submitted in the Bombay High Court last week.
NTPC, which was to submit its affidavit in Rejoinder on or before March 24, filed the papers on June 7 in connection with the case filed by the corporation last financial year for getting gas from RIL.
The two companies have been engaged in a legal battle over the gas deal for NTPC's 1,300 MW each Kawas and Gandhar projects in Gujarat.
RIL had emerged as the lowest bidder and an Letter of Intent was signed in June 2004.
The state-run company argued that the contract came into existence when the Mukesh Ambani's group company forwarded the duplicate of the duly stamped and signed LOI to NTPC and added that execution of a Gas Sale Purchase Agreement was a 'formality'.
NTPC rubbished RIL's contention that the two parties were negotiating and in discussion for about 18 months to conclude a GSPA but did not succeed.
"Once an agreement was reached, there were no 'real' issues on the GSPA, since the draft of the GSPA was, in fact, appended to the Request for Proposal itself," NTPC said.
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