This, after PIL seeks rethink on govt's decision on gas pricing based on Rangarajan formula
The Supreme Court on Monday issued notices to the Centre and Reliance Industries (RIL) on a public interest litigation (PIL) against the increase in natural gas price, filed by Communist Party of India leader Gurudas Dasgupta and former Union power secretary E A S Sarma.
A bench headed by chief justice P Sathasivam asked the Centre and RIL to respond within four weeks. The next hearing is scheduled on September 6. The central government, petroleum minister M Veerappa Moily, the petroleum ministry, RIL, Niko Resources and BP are among the respondents in the PIL.
“The bench has asked us why Moily is included in the list. To which, we responded there are charges levelled against him which need to be addressed,” Dasgupta’s counsel Colin Gonsalves told Business Standard. The PIL prayed for a stay on the decision to increase the price of domestic natural gas from $4.2 per million British thermal unit (mBtu) to $8.4 a mBtu, applicable from April 2014.
Gets conditional clearance; proposal to now go to Cabinet
Move likely to fetch additional revenue of at least Rs 4,000 cr in FY16