Anil Ambani group firm Reliance Energy on Monday accused elder brother Mukesh-led Reliance Industries of holding power and fertiliser sectors to 'ransom' by demanding artificially inflated price for natural gas.
Reacting to reports that RIL has warned of cartelisation in case it is asked to invite fresh bids for selling gas, REL Director J P Chalasani said: "It is shocking that RIL, a private sector monopoly producer of gas, is raising the bogey of cartelisation, to prevent a transparent rebidding process."
Chalasani said in a statement that RIL's "arrogance was now transgressing all limits," as it trashes the findings of a Committee of Secretaries and the Prime Minister's Economic Advisory Council, which advocated a fresh and transparent rebidding process.
The reaction came after RIL President and CEO (Petroleum) P M S Prasad wrote to Petroleum Secretary M S Srinivasan, saying a fresh bidding process for price discovery would distort market and lead to cartelisation as bidding would be now done under a pre-conceived