Supreme Court asks Reliance Industries to file response on CAG report

NEW DELHI: The Supreme Court on Friday 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.

A bench, headed by Justice T S Thakur, granted time after senior advocate Harish Salve, appearing for RIL, submitted that the company would like to file its response on the report which was placed before the court .

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.