RIL agrees to CAG audit: Oil secy

Reliance Industries has agreed to a Comptroller and Auditor General (CAG) audit on KG-D6 fields and issues over scope and extent of its scrutiny have been resolved,oil secretary Vivek Rae today said.

Written by Press Trust Of India | New Delhi | Published: April 4, 2013 12:54:41 am

Reliance Industries has agreed to a Comptroller and Auditor General (CAG) audit on KG-D6 fields and issues over scope and extent of its scrutiny have been resolved,oil secretary Vivek Rae today said.

“The audit issue has been resolved and that’s a big step forward,that we will now get CAG to do the audit for the last 3-4 years and if there are issues,the company can react and remedial action can be taken,” he told reporters at the sidelines of a CII annual general meeting (AGM) here.

“We’ve sent the letter (to Reliance),hopefully in a day or two they will confirm to us that they’ve agreed to it,” he added.

The CAG had at the end of its first sitting with RIL in January suspended the audit of spending on the flagging KG-D6 block following differences with RIL over scope and extent of the scrutiny.

Yesterday,Rae said,“The audit will happen. We are pretty clear about that. We are making all efforts to see that CAG is able to perform its duty.”

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