The Supreme Court was moved Wednesday seeking quashing of the government’s recent decision hiking natural gas prices from April 2014 and direction to the government to cancel the production-sharing contract with Reliance Industries and NIKO Resources related to the Krishna-Godavari basin block.<\/p>\n
The public interest litigation, filed by NGO Common Cause, former cabinet secretary T.S.R. Subramanian, former naval chief L. Ramdas and former secretary Ramaswamy R. Iyer, also sought a court-monitored investigation into the alleged collusion between politicians and corporates.<\/p>\n
The petitioners sought levying of penalty on the involved corporates for their persistence failure in adhering to their commitments, deliberate underproduction and allegedly malafide conduct.<\/p>\n
Seeking the quashing of the recent decision to increase the gas prices from $4.2 mmbtu to $8.4 mmbtu, the petition said new gas prices should be applicable only for fresh auctions for unexplored greenfield areas and not to existing discoveries.<\/p>\n
The petition said the action of the government showed that instead of acting as custodian and trustee of natural resources belonging to people, “it has played a fraud on the people and the constitution”.<\/p>\n
(Source: IANS)<\/p>\n","protected":false},"excerpt":{"rendered":"
The Supreme Court was moved Wednesday seeking quashing of the government’s recent decision hiking natural gas prices from April 2014 and direction to the government to cancel the production-sharing contract with Reliance Industries and NIKO Resources related to the Krishna-Godavari basin block. The public interest litigation, filed by NGO Common Cause, former cabinet secretary T.S.R. […]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[25706,25707,25704,47776,47765,25703,25678,25702,25705,47774,47775,23371],"class_list":["post-29750","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-chief-l-ramdas","tag-former-secretary-ramaswamy-r-iyer","tag-krishna-godavari-basin-block","tag-national-news","tag-news","tag-niko-resources","tag-plea-in-sc-questions-natural-gas-pricing","tag-reliance-industries","tag-t-s-r-subramanian","tag-todays-news","tag-todays-top-news","tag-top-news"],"yoast_head":"\n