The Supreme Court granted six weeks’ time to Reliance Industries Ltd to respond to Comptroller and Auditor General (CAG) 2014 report which had adversely commented on its operations of gas blocks in the KG basin. It also allowed communist leader Gurudas Dasgupta, who is one of the petitioners in the case, to file his response on New Domestic Natural Gas Pricing Guidelines, 2014. Under the new guidelines, the price of the gas has been fixed at $5.61 MMBTU, up from earlier price of $4.2 MMBTU. The new price became effective from November 1, 2014. The court posted the case for further hearing to March 20.
The information in this private circulation is not legal advice and should not be treated as such. The information is taken from public domain and is purely for private and non- commercial purposes. We do not represent that the information is correct, accurate, complete or non- misleading.
This disclaimer will be governed by and construed in accordance with laws of India, and any disputes relating to this disclaimer will be subject to the exclusive jurisdiction of the courts of the Republic of India.