RIL:Open to probe by CAG

Reliance Industries has told the government that it is “ready and open” to scrutiny by any of its agencies, including CAG, for the expenditure it has incurred on discovering and developing the KG-D6 gas fields.

At a meeting called by the petroleum ministry on the issue of Comptroller and Auditor General (CAG) of India auditing the books of private operators, the company stated that it had nothing to hide and was open to scrutiny, a government official present at the meeting said. The government had in 2002 asked CAG to audit Production Sharing Contracts like the one for KG-D6 block with RIL, signed under the new exploration licensing policy, but the premier auditor had then stated that its charter neither permitted audit of private accounts nor did it have the manpower to do so.

http://www.deccanchronicle.com/business/open-probe-cag-ril-528