Friday, December 23 2005 17:46 Hrs (IST) - World Time -

Mumbai: National Thermal Power Corporation (NTPC) and Reliance Industries Ltd (RIL) did not achieve any breakthrough in their dispute over gas sales and purchase agreement in keeping with a suggestion of the judiciary, even as NTPC's petition against RIL for specific performance of contract was adjourned till January 30 next year.

The petition was adjourned by justice S F Vajifdar as RIL sought time to file reply to the petition. Accordingly, the ad-interim relief prayed for by NTPC seeking an order to restrain RIL from entering into contract with any other party was not granted.

Both the entities today tried to work out modalities but could not come to any conclusion and later during the day met the judge in his chamber following which he adjourned the hearing to January 30.

RIL had yesterday (Dec 22, 2005) disclosed concern over the 'uncapped liability' clause in the GSPA and said it has made the contract 'unbankable' for the company.

RIL, which has sought time to file its reply, has been asked to file its affidavit on January 16, a week after the courts resume after its Christmas vacations. NTPC has been allowed to file a rejoinder on January 27 and the next hearing for ad-interim relief would take place on January 30.

Hearing the arguments advanced by both the sides, Justice Vajifdar yesterday said, "This is a very delicate matter and both parties should arrive at a solution by talking to each other and attempt to solve their differences".