New Delhi: The Comptroller and Auditor General of India (CAG) has pulled up Reliance Industries for charging a rate in excess of the government approved price for its KG-D6 gas field and not including the marketing margin for calculating royalties and government’s share. The Centre had in October 2007 set a sale price of USD 4.20 per million British thermal unit based on the price discovered by RIL from key customers. The CAG in a draft report of audit of RIL’s eastern offshore KG-D6 block spendings stated that the company charged USD 4.205 per mmBtu from consumers, leading to excess billing of USD 9.68 million.
‘RIL charged more than approved price’
RECENT STORIES
India Is A Major Footwear Exporter Of The World, & There Is A Need To Expand Business To Boost...
Wockhardt Achieves Historic US FDA Nod For New Antibiotic, Shares Soar 19% As India Marks Pharma...
Rupee Falls 34 Paise To An All-Time Low Of 89.79 Against US Dollar, Negative Trend Heats Up In...
Ola Electric Announces Nationwide Rollout Of In-App Service Appointment Feature Under Hyperservice...
Maruti Suzuki India Merger With Suzuki Motor Gujarat Effective From December 1
