SEARCH

News » National

Updated: September 6, 2013 16:43 IST

Dasgupta demands quick decision on $2.4 billion penalty to RIL

Sujay Mehdudia
Comment (5)   ·   print   ·   T  T  
CPI MP Gurudas Dasgupta demanded imposition of penalty on RIL for defaulting gas extracttion in KG-D6. A file photo: Sandeep Saxena.
The Hindu CPI MP Gurudas Dasgupta demanded imposition of penalty on RIL for defaulting gas extracttion in KG-D6. A file photo: Sandeep Saxena.

Communist Party of India MP, Gurudas Dasgupta on Friday wrote to Prime Minister, Manmohan Singh seeking an immediate decision by government to impose $2.4 billion penalty on Reliance Industries Limited (RIL) due to deliberate hoarding of gas production from KG-D6 block.

Mr. Dasgupta also asked Dr. Singh to direct the Petroleum Ministry to take immediate steps to ensure that RIL is made to pay $4.2 mbtu price for the shortfall of the gas from KG-D6 facility even after April 2014.

In a letter to the Prime Minister, Mr. Dasgupta, while enclosing a copy of the report of Gopalakrishnan Committee, set up to study the decline in gas production from the KG basin block, said the report clearly nails the lie of geological uncertainty being used by RIL. Since this report had been accepted by both the Directorate General of Hydrocarbons (DGH) and the Petroleum Ministry, the Government should not succumb to the devious ploy of the Petroleum Minister to reopen the issue to give undue benefit to RIL and weaken the government case in arbitration.

“You are aware that the government had imposed a penalty of $1 billion on RIL for deliberate default in production. I had pointed out that this amount works out to $1.8 billion for 2012-13 and $2.4 billion for the current year due to continuing shortfalls. It is learnt that DGH has agreed with my contention and recommended penalty of $1.8 billion for 2012-13. However, the Petroleum Ministry has not issued a fresh notice to RIL based on DGH’s suggestion and the Petroleum Minister is stalling the matter. I would urge you to the direct the Petroleum Ministry to issue a fresh notice to RIL immediately, both for last year and current year,’’ Mr. Dasgupta added.

He reiterated that RIL should be asked to supply the shortfall in quantity of gas from the KG D6 at old rate of $4.2 mbtu and a penalty of $2.4 billion be imposed for deliberate default.

More In: National | News | Business

Now petroleum ministry will say the amount the fictitious and a committee will be setup to make fresh evaluations and reasons.It will finally say no loss and Reliance is best company doing the job.its all fixed India knows.

from:  aadesh
Posted on: Sep 7, 2013 at 06:22 IST

salute to Mr dasgupta. people of INDIA are with you.Media must help him without fear. It is a matter need to look as loss of nation or loot of nation treasury.

from:  jayant sanghvi
Posted on: Sep 7, 2013 at 01:40 IST

Where are the crusaders of corruption?

from:  Roopesh P Raj
Posted on: Sep 6, 2013 at 18:59 IST

If the PM listens to the demand of Sr. Gurudas Dasgupta and acts
accordingly, one source of finance for the ensuing lok Sabha elections
will automatically dry up.

from:  P.S.Arunachalam
Posted on: Sep 6, 2013 at 17:17 IST

Salute to Mr Dasgupta. Only politician who can question Reliance Industries.

from:  Barry
Posted on: Sep 6, 2013 at 16:50 IST
This article is closed for comments.
Please Email the Editor

International

Tamil Nadu

Andhra Pradesh

Karnataka

Kerala


O
P
E
N

close

Recent Article in National

Prime Minister Narendra Modi talks with Vice President Joe Biden as Secretary of State John Kerry speaks during a luncheon at the State Department in Washington on Tuesday. Photo:AP

Modi lunches with Kerry, Biden on final day

After solid, half-day of parleys on economic policy, counterterrorism cooperation and much more, Indian Prime Minister Narendra Modi is... »