Deep Industries has received a show-cause notice from ONGC pertaining to certain allegations in respect of ongoing contracts. The company has sought various documents from ONGC based on which allegations are made.
However, Deep Industries clarified that the allegations made in show cause notice are baseless. It is in process of replying to show cause notice and contesting all the allegations made therein. According to the company, it is pioneer company in Indian oil & gas services business for last three decades and maintains highest level of integrity in its business conduct while serving clients across varied services both in public and private space.
Deep Industries has been serving the industry in various segments with the foremost being providing Air & Natural Gas Compressor Services on chartered hire basis, wherein company commands a healthy market position and is also the first company in India to offer such services.
