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
Shark Tank India 5: Natural Skincare Brand Founder Manoj Das Removes 'Doctor' From Instagram Bio...
Avenue Supermarts Q3 Profit Rises 18.28 Per Cent To ₹855.78 Crore On Higher Revenue
Crest Ventures Forms JV To Develop Mumbai Realty Project, Targets ₹1,850 Crore Revenue
4-Point Plan To Tackle Tariffs As India Eyes 7.4 Per Cent Growth: EAC-PM Chairman S Mahendra Dev
China Inflation Ticks Up In December, Reaches Nearly 3-Year High
