1 00:00:04,831 --> 00:00:10,208 (Phone Ringing) 2 00:00:10,463 --> 00:00:13,024 Niira: You see Manoj. Manoj: Hmm! 3 00:00:13,024 --> 00:00:20,704 Niira: Ashu has given a very interesting argument. He was on air with Latha Just now. Ofcourse Sajid gets it completely wrong and I am sure he is completely bought out, right? 4 00:00:20,704 --> 00:00:24,031 Manoj: Hmm! Niira: The thing is that he has raised an argument. He has raised three points. 5 00:00:24,031 --> 00:00:30,431 Niira: You see, he's raised...First he is coming at it from the point of view that listen, my God. You may have...He is coming at the same price of dual pricing. 6 00:00:30,431 --> 00:00:35,040 Manoj: Hmm. Niira: He is saying that this is a natural resource, all that. He is saying all that right? 7 00:00:35,040 --> 00:00:38,112 Manoj: Hmm. Niira: The second point he is saying, I am a regulator. You're at a cost-plus. 8 00:00:38,112 --> 00:00:45,024 Manoj: Hmm. Niira: You have multiple companies where you are saying I have RNRL. RNRL will supply to XY. XY has an RINFRA, INFRA has got this. You know? 9 00:00:45,024 --> 00:00:48,352 Manoj: Hmm. Niira: And therefore you have... Where is your offtake? 10 00:00:48,352 --> 00:00:53,472 Manoj: Hmm. Niira: There is a cost-plus formula which exists as far as regulators is concerned. Are you really benefiting by this? 11 00:00:53,472 --> 00:01:01,152 Manoj: Hmm. Niira: If your saying I am charging a 2.3 therefore you will have a cost-plus formula as far as the consumer is concerned. You cannot make hefty profits, no? 12 00:01:01,152 --> 00:01:07,807 Manoj: Hmm. Niira: You'll pass that back to the consumer. That's the second thing. Then he says the third point, where are your... Where are your power plants? 13 00:01:07,807 --> 00:01:15,487 Niira: You tell me where are your power plants. If RIL tomorrow says, ok, I am producing this...From tomorrow I am giving it to you. 14 00:01:15,487 --> 00:01:17,536 Manoj: Hmm. Niira: Where are you going to put it? 15 00:01:17,536 --> 00:01:19,840 Manoj: Hmm! Niira: You are not allowed to trade. 16 00:01:19,840 --> 00:01:28,288 Manoj: Hmm! Niira: That is the third point. The fourth point he's...he's come out with is that if I am a share holder of RIL, I am going to say why - 17 00:01:28,288 --> 00:01:34,176 Niira: - I mean he is going to go back to the government and say that look my share holders are saying if I have to give this and it is going to make me lose so much money... 18 00:01:34,176 --> 00:01:38,527 Niira: Given that the government has set the price of 4.2, why should I subsidise something like this? 19 00:01:38,527 --> 00:01:41,088 Manoj: Hmm! Niira: I am an operator. I don't own this gas. 20 00:01:41,088 --> 00:01:47,744 Manoj: Hmm! Niira: You know I have spent seven billion dollars in doing this. I don't want to do it. You give me my money back plus damages. 21 00:01:47,744 --> 00:01:55,680 Manoj: Hmm. Niira: He says that the government will be forced to take a corrective. So he says you know, lets not wade into this I think the High Court has just not understood it. 22 00:01:55,680 --> 00:02:01,568 Manoj: Hmm! Niira: Has gone into a completely different argument but the perspective is right na? 23 00:02:01,568 --> 00:02:04,896 Manoj: Hmm! Niira: He is coming at it... He is saying where are you going to put the gas. Please tell me. 24 00:02:04,896 --> 00:02:14,879 Manoj: Hmm! Niira: Ye CNBC me abi aa reha hai. (This is coming on CNBC now.) Sajid ko usme... Ek question me usko bola. (He told Sajid in one question.) 25 00:02:14,879 --> 00:02:21,791 Niira: Sajid, what is the current pricing worldwide? Sajid, what is it that your... Please tell me Sajid. Sajid said well right now it is about $6. 26 00:02:21,791 --> 00:02:24,863 Manoj: Hmm! Niira: So he says then fine. 27 00:02:24,863 --> 00:02:31,263 Manoj: Hmm! Niira: Your telling me that just because two brothers get into an argument, India should be deprived of this? 28 00:02:31,263 --> 00:02:34,591 Manoj: Hmm! Niira: Usne ye agrument deya. Ashu ne Lata ne (Ashu and Lata both gave this argument.) 29 00:02:34,591 --> 00:02:42,271 Manoj: Hmm! Niira: I still think that there is scope for you to brief informally on these three four points very critically. 30 00:02:42,271 --> 00:02:47,136 Niira: Ke thumara regulator ka ek cost-plus formula hota hai. (That your regulator has a cost-plus formula.) 31 00:02:47,136 --> 00:02:54,559 Niira: I don't know how the power thing works but what he is saying is...Therefore the benefit will have to go consumer. 32 00:02:54,559 --> 00:03:03,776 Manoj: Hmm! Teek hai. (Ok.) Niira: So there are two points to this. One point is...You know, can there be dual pricing? 33 00:03:03,776 --> 00:03:11,967 Manoj: Hmm! Niira: To which I as a share holder, why should I pay out of my pocket for something that the government needs to decide on. I am only an operator of this. 34 00:03:11,967 --> 00:03:17,855 Manoj: Hmm! Niira: And thirdly if you want to open up the pricing, then open up completely. 35 00:03:17,855 --> 00:03:25,535 Manoj: Hmm! Niira: Kya hua? (What happened?) Manoj: Haan, teek hai. (Ok.) 36 00:03:25,535 --> 00:03:31,423 Niira: Kya hua? (What happened?) Manoj: Nahi, nahi. (Nothing.) Niira: What happened? Manoj: Nothing, nothing. 37 00:03:31,423 --> 00:03:38,847 Niira: Acha Manoj, humne pehele ye jo unhone Friday - Monday ke leye bolata tho humne pro and cons kal he banaya tha ke kya hoga? (Ok Manoj, what they had said for Friday - Monday... Have we made the pro and cons yesterday about what will happen?) 38 00:03:38,847 --> 00:03:44,991 Manoj: Nahi vo tho ready hai boss. (No that is already ready.) Ye sab arguments jo aap jo bol rehe hai vohi hum log abi kar rehe hai. (These arguments that you are telling me we are already doing that.) 39 00:03:44,991 --> 00:03:49,599 Niira: Nahi, nahi. Hum ne decide nahi keya tha ke agar... (No,no. We had not decide that... ) ... if we win what the scenario will be. 40 00:03:49,599 --> 00:03:56,000 Niira: What should our position be and if we lose what our position will be. Manoj: See, we never expected a one-sided judgement no? 41 00:03:58,047 --> 00:04:06,239 Manoj: We were always firm that it will be a 50-50 type of decision and depending on what the written judgement is we will decide on our second course of action. 42 00:04:06,239 --> 00:04:09,311 Niira: Haa, but listen, I don't understand what you guys are doing at court. 43 00:04:09,311 --> 00:04:15,967 Manoj: We are feeding in these things only. The dual pricing. The fact that where is the power plant for them to take the gas. 44 00:04:15,967 --> 00:04:21,600 Niira: Haa! Manoj: We are feeding these thoughts in the minds of the journalists. So we will leave now. 45 00:04:21,600 --> 00:04:32,351 Niira: No but listen. I do think that this... Manoj: We are putting enough doubt in the minds of the journalists to not say... (Inaudible). 46 00:04:32,351 --> 00:04:42,335 Niira: Haa! Manoj: ... This judgement is no different from the single judge judgement and that therefore the unit is status quo. And we continue to supply gas. 47 00:04:42,335 --> 00:04:48,479 Niira: Haa! Where will you put the gas na? He's not allowed to trade, is he? 48 00:04:48,479 --> 00:04:52,575 Manoj: Yeah! Yeah! So that is what we are feeding into the minds of the journalist. That's it. 49 00:04:52,575 --> 00:04:58,463 Niira: The other thing Manoj, very critical, when does the 17 years start from? Manoj: Haa! One doesn't know. 50 00:04:58,463 --> 00:05:04,608 Niira: Haa! So when the 17 years is starting from tomorrow, so then... tho nahi ho sakta hai na? (... it can't happen, can it?) 51 00:05:04,608 --> 00:05:12,031 Manoj: Hmm! Niira: He is on his case that about we will get 12 MMSCDS...MMSCMD's. 52 00:05:12,031 --> 00:05:20,223 Niira: if NTPC forgoes the gas from RIL. Vo tho 12 plus 28 ke bath kar reha hai. (He is talking about 12 plus 28.) So where is he going to put it? 53 00:05:20,223 --> 00:05:26,111 Manoj: Nahi, nahi, abi tho vo bol reha hai ke... ( No, no, now he is saying that...) 40% of all gas reserves is ours. That is his later statement. 54 00:05:26,111 --> 00:05:28,671 Niira: Haa... Manoj: Mukul Rohatgi has mentioned that. Niira: Haa... 55 00:05:28,671 --> 00:05:32,000 Manoj: That the MOU says that 40% of all gas reserves is mine. 56 00:05:32,000 --> 00:05:41,471 Niira: Haa. So we will have to men... We will have to give this messaging. I hope somebody is at the office copying what the messaging is na? 57 00:05:41,471 --> 00:05:46,335 Manoj: Yeah, yeah! They are messaging. They are sending updates every time. 58 00:05:46,335 --> 00:05:51,199 Niira: No, no can you just make sure the updates are going to the client? He needs to know what they are saying na? 59 00:05:51,199 --> 00:05:53,759 Manoj: Theek hai. (Ok.) Niira: You and I don't need to know this. 60 00:05:53,759 --> 00:06:03,743 Manoj: Raja ko bhej detahu. (I will send it to Raja.) Niira: No Raja, MM... I think quickly do a quick mail that these are the following statements that have been made by the other side. 61 00:06:03,743 --> 00:06:08,367 Manoj: Theek hai. (Ok.) Niira: And you can talk about this as the counter argument that is coming in. 62 00:06:08,367 --> 00:06:10,189 Manoj: Ok. Niira: You know please advice what do we go with, you know? (Tape ends.)