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Business News/ Politics / Policy/  Centre to file status report in KG-D6 gas-pricing case
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Centre to file status report in KG-D6 gas-pricing case

In November 2014, a CAG report finding faults in the government's contract with RIL over the KG-D6 basin was tabled before the Parliament

A file photo of the exploratory equipment in the KG-D6 basin.Premium
A file photo of the exploratory equipment in the KG-D6 basin.

New Delhi: The Union government will file a status report before the Supreme Court regarding the proceedings that followed a Comptroller and Auditor General (CAG) report on gas output at the KG-D6 basin.

On Monday, solicitor general Ranjit Kumar sought time to file this report before a bench of justices T.S. Thakur, J. Chelameswar and Kurian Joseph, which permitted him to do so.

In November 2014, a CAG report finding faults in the government’s contract with Reliance Industries Ltd over the KG-D6 basin was tabled before the Parliament. The report noted that the audit of the production sharing contract for the basin “disclosed weaknesses in the areas of management and contractual obligations".

RIL is in the process of replying to the CAG report to show its flaws. Lawyer Harish Salve, appearing for RIL, said the same would be filed in the next two-three weeks.

Earlier, lawyer Prashant Bhushan, appearing for non-profit Common Cause, had alleged that there had been “multiple frauds" committed in the RIL contract for KG-D6 basin and the contract needed to be revoked with a probe by the Central Bureau of Investigation.

The petition was originally filed by Communist Party of India leader Gurudas Dasgupta, who had alleged that the government’s move to hike the price of gas was favourable for Mukesh Ambani-owned Reliance Industries Ltd. The dispute is over the gas from the KG basin which the government should reclaim from RIL for not utilising it, according to Dasgupta’s petition.

The government, on Monday, said that the case needed to be heard as the issue was on gas pricing, on which RIL was already moving forward with arbitration.

The court will hear the case on 5 May.

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Published: 30 Mar 2015, 05:36 PM IST
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