CAG not giving time to respond: RIL
Ahead of a planned meeting with the CAG, Mukesh-Ambani-led Reliance Industries has said that it was not being given enough time to respond to the audit observations on KG-D6 gas fields.business Updated: Jul 10, 2011 21:40 IST
Ahead of a planned meeting with the CAG, Mukesh-Ambani-led Reliance Industries has said that it was not being given enough time to respond to the audit observations on KG-D6 gas fields.
RIL senior vice president (commercial) B Ganguly has written to the petroleum secretary saying that the time CAG has allocated to the company at the July 12 Exit Conference that will conclude the audit of RIL's KG-D6 field cost, was "far too inadequate" to answer issues raised in the audit.
"An audit of accounts cannot transform itself into a review of performance of the operator. (CAG) must concern itself with the integrity of the accounts and their adherence to the decisions of the management committee (that oversees operations). It cannot supplant the management committee," he wrote on July 1.
Previously, the company's executive director PMS Prasad had written to the oil secretary that CAG neither discussed finding mentioned in the draft report with RIL, nor did it raise them at their June 4 interaction.
Ganguly also felt the audit was exceeding its scope. "We would humbly submit that performance audit is beyond the scope of government powers of audit" under the PSC, Ganguly said.
He pointed to the April 15, 2009, letter by the principal director, CAG, to RIL stating that a "special audit (not performance audit) was to be conducted" on its block.
First Published: Jul 10, 2011 21:38 IST