Gujarat govt yet to take a call on Saurabh Patel's conflict of interest

A newspaper report said he had financial interests in eight onshore oil blocks in Gujarat through a web of companies

Fresh revelations on former energy and petrochemicals minister Saurabh Patel's investments in eight oil and gas blocks through a web of companies was discussed by Gujarat government during its meetings on Tuesday. However, the state administration is yet to take a call on question of conflict of interest raised by a report in Indian Express.

According to state government sources, the topic was discussed in several meetings at the 'Swarnim Sankul', the chief minister's block in the state secretariat.

On Tuesday, Indian Express ran a report on how Patel, a four-time BJP MLA from Gujarat, had financial interests in eight onshore oil blocks in Gujarat through a web of companies as the minister of energy & petrochemicals for 14 years.

Saurabh Patel could not be contacted despite several attempts.

Gujarat government deputy chief minister Nitin patel, on the other hand, refused to comment on the development.

"I don't wish to comment as I'm not fully aware of the issue," Nitin Patel said.

Since 2002, Saurabh Patel had served as cabinet ministers in BJP ruled government. He handled several portfolios including Energy and Petrochemicals, Mines and Minerals, Stationery, Planning, Tourism, Civil Aviation, Cottage Industry, Salt Industry, Printing and Labour and Employment.

The Indian Express investigation of Registrar of Companies records, company balance sheets, and filings to the Bombay Stock Exchange revealed a web of transactions and a series of name changes that links Suryaja, in which Saurabh Patel had stake, to production-sharing contracts signed by Centre and state-owned PSUs for exploration of eight oil blocks in the Cambay basin in Gujarat.

Apparently, Suryaja invested in a private listed company Gujarat Natural Resources Limited (GNRL) which is in the oil and gas exploration business. It is this investment that raises questions of propriety and conflict of interest.

Business Standard also tried to contact managing director Shalin Shah of GNRL but he was unavailable. Officials of Gujarat State Petroleum Corporation (GSPC) were also unavailable for comments.