Union Petroleum Minister Veerapa Moily asked the newly appointed oil secretary Vivek Rae to take steps to resolve the difference of opinion between Reliance Industries (RIL) and the Comptroller and Auditor General (CAG). Following the direction, Rae is reportedly making efforts to resolve some differences between the company and the auditor
Tag: deal
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CAG to conduct comprehensive audit
The Comptroller and Auditor General (CAG) will conduct two separate "performance audits" in the oil and gas sector. The first one pertains to the government's role in the supply and pricing of natural gas between 2007-08 to 2011-12, which will cover the pricing of RIL's KG-D6 gas, its allocation to various consumers and supply cuts due t
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Report on Petronet LNG deal expect in some weeks
According to media reports, a two-member team
appointed by the Petroleum Minister Veerappa Moily, to probe the alleged irregularities in the gas supply deal between Petronet LNG (PLL) and Qatar-based Ras Laffan, would submit its report in some weeks. The team was appointed by the Moily in January as the earlier inquiry ordered by former minister Jaipal Redd
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SKS completes Rs 411 cr worth securitisation deal
So far in 2012-13, SKS Microfinance clinched five securitisation deals aggregating to Rs 411 crore with banks. The fifth one was a Rs 52.62 crore securitization deal that the bank entered into recently with a private sector bank and which is rated A1 {SO). Meanwhile, it may be noted that the company announced a net profit of Rs 1.2 crore during October-December 2012, after suffering losses in seven consecutive qua
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SKS completes Rs 411 cr worth securitisation deal
So far in 2012-13, SKS Microfinance clinched five securitisation deals aggregating to Rs 411 crore with banks. The fifth one was a Rs 52.62 crore securitization deal that the bank entered into recently with a private sector bank and which is rated A1 {SO). Meanwhile, it may be noted that the company announced a net profit of Rs 1.2 crore during October-December 2012, after suffering losses in seven consecutive qua
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Panel upholds CAG’s right to audit blocks
The Rangarajan Committee on oil and gas sector opined that it was the prerogative of the Comptroller and Auditor General of India (CAG) to audit expenses incurred by block operators. The panel, which submitted its report to the union government recently, suggested that the blocks with low value can be audited by panel of auditors formed by CAG and f
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