RIL special audit to be completed in 6-8 months: CAG

The Comptroller and Auditor General of India (CAG) is expected to complete the special audit of the accounts of KG basin oil and gas fields of Mukesh Ambani-owned Reliance Industries Ltd (RIL) by February next year, a top official said today.

The apex government accounting body, CAG, was entrusted with the task of auditing the RIL books after it was alleged that former Directorate General of Hydrocarbons, V K Sibal, had shown undue favour to RIL in exchange for certain favours to his kin.

“That (audit) will take time...We have started the audit...It will take at least 6-8 months,” CAG Vinod Rai told reporters here. He was responding to a query as to when he expected the special audit to be completed. CAG was asked by the Petroleum and Natural Gas Ministry to audit the accounts of RIL.

Replying to another query on the special audit of telecom companies for alleged revenue leakage, Rai said that his report was likely to be tabled in Parliament during its Winter Session. “Hopefully, we will be able to table the report in the winter session,” Rai said.

There were several audits that the CAG was presently carrying out, Rai said, adding, “These take normally 4-5 months to complete.”