Plundering of India's Natural resources by Ambanis, in collusion with congress, continues unabated

CPI MP Gurudas Dasgupta on Tuesday accused Maili of "thwarting" arbitration proceedings initiated against Reliance Industries Ltd by his predecessor Jaipal Reddy to limit the cost recoveries due to shortfall in production of gas from RIL-operated KG-D6 basin. Reddy had imposed a fine of $1 billion on RIL to restrict cost recovery due to shortfall in production in 2011-12. Dasgupta alleged that Moily was "sitting over" the decision of the former minister to "give undue benefits to Reliance." In a letter to Prime Minister Manmohan Singh, Dasgupta said the government stands to lose $1 billion by not proceeding with the arbitration. "Can a Petroleum Minister decide unilaterally to thwart the arbitration proceedings to absolve a single corporate of its multi-billion contractual obligations?" he asked. "The Petroleum Minister (Moily) talks about giving incentives for (raising) production. What about disincentives for shortfall in production." "The penalty of 2011-12 was based on the principle of reduced production leading to a reduction in capital allowed since assets were under-utilised. The same principle needs to be scrupulously applied for both 2012-13 and the current year as well," he wrote. He also alleged that Moily was pressuring the petroleum secretary to "put up a note suggesting that arbitration proceedings should be dropped and there should be negotiations". The CPI MP, however, did not furnish any documents to back his allegation. Dasgupta had previously alleged that Moily was favouring RIL by proposing a steep increase in gas prices. He sought the Prime Minister's intervention to "ensure that arbitration proceedings are persisted with" and "fresh penalties for failing production are imposed". Talking to reporters, Dasgupta demanded a judicial inquiry into the matter. http://www.indianexpress.com/news/gurudas-dasgupta-continues-attack-on-moily-says-ril-given-undue-benefits/1130926/