The exploration and production policy for hydrocarbons being the cornerstone of India's energy security, a committee led by C Rangarajan has recently proposed a new and liberalised framework for production-sharing contracts and gas pricing. This article focuses on the proposed gas pricing mechanism.With the commencement of the New Exploration and Licensing Policy (NELP) in 1999, opening the sector to all players including foreign companies, followed by the introduction of liquefied natural gas and supplies from Reliance Industries' KG-D6 gas fields, the volume of gas supply in the country has tripled. However, at the same time, the demand for natural gas is geared to grow relentlessly from the current share of 10 per cent of the energy basket of the country to about 25 per cent by 2025.The current regime of natural gas pricing can be broadly categorised into three: first, regulated pricing under the Administered Pricing Mechanism (APM) with different prices prevailing for priority sect

K P Shashidharan: The problem with gas pricing

Business Standard

No meaningful attempt to improve corporate governance in India can begin without learning lessons from the biggest corporate fraud in the country &mdash; by Satyam, which drew attention to systemic flaws in India&rsquo;s corporate governance framework and practices. The company won great accolades for being exceptionally well-governed, was listed on different global exchanges and was audited continuously by one of the best known international audit firms.

K P Shashidharan: Towards eliminating corporate fraud

In the backdrop of the ongoing heated debate on the Comptroller and Auditor General (CAG)&rsquo;s report on the 2G spectrum allocation, it seems many of the apprehensions could arise due to limited appreciation in the public mind about the audit process per se and the functioning of the national auditor. It would not be inappropriate at this juncture to look at the role and functions assigned to the CAG by the Constitution.

K P Shashidharan: Not a blood hound

The way banks have been providing for liabilities disproportionately in different quarters over the years came to the attention of all stakeholders and regulators when the fourth quarter results of State Bank of India (SBI) for 2010-11 devastated investor confidence and credibility in financial reporting. This impacted the bank major&rsquo;s share price plummeting to one of its lowest marks.

K P Shashidharan: Provisioning for credibility

The Securities Exchange Board of India (Sebi) has proposed certain amendments in Clause 49 of the Listing Agreement, pursuant to proposed enactment of the Companies Bill, 2012. These changes are necessitated to bring alignment between the two regulations and thereby improving the quality of corporate governance in the country, in the light of changes in the global regulatory environment. Though inalienable rights of the shareholders as the true owners of the corporation and the role of the management as trustees on behalf of the shareholders adhering to business ethics by making a distinction between personal and corporate funds in the management of a company have adequately been emphasised since the report of Narayana Murthy Committee on Corporate Governance in 2003, there needs to be harmonisation of regulatory requirements in the proposed Companies Act and the new Sebi&rsquo;s Listing Agreement.

K P Shashidharan

K P Shashidharan

K P Shashidharan

K P Shashidharan: The problem with gas pricing

K P Shashidharan: Towards eliminating corporate fraud

K P Shashidharan: Not a blood hound

K P Shashidharan: Provisioning for credibility

K P Shashidharan: Independent directors: Changes in the Bill & Sebi's Listing Agreement