CBI likely to book Mukesh Ambani-led RIL in KG Basin case
The CBI has almost finished investigations against former DGH V K Sibal and RIL in the KG Basin contract case and FIRs are likely to be registered soon.
By TNN | Updated:
NEW DELHI: The CBI has almost finished investigations against former director general of Hydrocarbons (DGH) V K Sibal and Mukesh Ambani-led Reliance Industries Limited (RIL) in the KG Basin contract case and FIRs are likely to be registered soon. A senior CBI official told TOI, "We have found complicity of Sibal with RIL." Officials said Sibal and some Reliance officials would be formally questioned now.
The allegations against Sibal in one of the PEs is that he favoured RIL and approved an increase in capital expenditure from $2.4 billion to $8.8 billion for KG D6 field between September and December 2006 for which he got personal favours from RIL. "We have almost finished the enquiries. The final go-ahead would be given by top brass after which regular case would be registered," said a source.
Three PEs were registered against Sibal a few months ago out of which one was turned into a regular case in the first week of July. In the first case, Sibal allegedly favoured a US-based oil exploration company - GX Technology - by escalating the cost which caused a loss of Rs 400 crore to the exchequer. The agency is preparing to send a letter rogatory to US to get more information about GX Technology. After registering the first case, CBI had raided Sibal's residence and documents related to the case were recovered, said sources. The raids were conducted in Noida, Delhi, Dehradun and Mumbai.
Apart from Sibal, the other accused in the first case are ex-chief geologist D K Rawat; then adviser - geophysics S K Jain, former accounts department head K A Murli, then adviser (contracts) Anurit Sahi, ex-finance manager TSLN Reddy, then chief chemist Savendra Gupta, GX Technology and the company's manager of exploration Sujata Subramaniam.
The allegations against Sibal in one of the PEs is that he favoured RIL and approved an increase in capital expenditure from $2.4 billion to $8.8 billion for KG D6 field between September and December 2006 for which he got personal favours from RIL. "We have almost finished the enquiries. The final go-ahead would be given by top brass after which regular case would be registered," said a source.
Three PEs were registered against Sibal a few months ago out of which one was turned into a regular case in the first week of July. In the first case, Sibal allegedly favoured a US-based oil exploration company - GX Technology - by escalating the cost which caused a loss of Rs 400 crore to the exchequer. The agency is preparing to send a letter rogatory to US to get more information about GX Technology. After registering the first case, CBI had raided Sibal's residence and documents related to the case were recovered, said sources. The raids were conducted in Noida, Delhi, Dehradun and Mumbai.
Apart from Sibal, the other accused in the first case are ex-chief geologist D K Rawat; then adviser - geophysics S K Jain, former accounts department head K A Murli, then adviser (contracts) Anurit Sahi, ex-finance manager TSLN Reddy, then chief chemist Savendra Gupta, GX Technology and the company's manager of exploration Sujata Subramaniam.
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