RIL-RNRL case: SC asks govt to file add'l affidavit on NTPC

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The government has told the Supreme Court today that there is no need to file an additional affidavit in the Reliance Industries - Reliance Natural Resources case, reports CNBC-TV18's Pranshu Sikka. It says the previous affidavit is sufficient to safeguard NTPC's interest. On Monday, the government counsel had said it will file an additional affidavit by Tuesday.

To which, the apex court said the government can't backtrack on the statement given on the court's floor. The court also directed the government to file an additional affidavit. The government has agreed to file an affidavit on the court's direction.

Here is a verbatim transcript of Pranshu Sikka's comments on CNBC-TV18. Also watch the accompanying video.

The Supreme Court told the Government that they cannot go back on the promise they made on Monday in the court of law. Finally the government gave in and consented to filing an affidavit within the next couple of days.

Other developments were that Reliance Natural Resources Ltd (RNRL) counsel Ram Jethmalani has taken a two-pronged strategy going further. One, he disputes the conduct as well as the content of the important Board of Directors resolution on January 11, 2006, which basically laid out contours for the Gas Supply Master Agreement (GSMA).

Secondly, he is also contesting the role of the government in this entire matter. He says that the government was deliberately made a party in that January 11 Board of Directors' agreement in order to make sure that the friend minister - this is the term Jethmalani used the 'friend minister' - could get as much benefit to Reliance Industries Ltd as possible.

So those were the basic premises. But Mr. Jethmalani was at his offensive best in the last 1-1.5 hours and there was high voltage drama. We should expect some real action over the next week or so.