SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

CAG pulls up GAIL for giving Rs 246-cr of undue benefit to private power companies

05 Sep 2012 Evaluate

The Comptroller and Auditor General (CAG) has hauled up gas utility GAIL India for extending over Rs 246 crore worth undue benefits to private power producers by supplying natural gas at subsidized rates.  Much towards the violation of Petroleum Ministry’s directives, the CAG report, underscored that the company supplied natural gas at subsidized rates to ineligible power producers generating and supplying electricity to their consumers at commercial rates, thereby depriving eligible consumers of subsidised/APM gas.

Meanwhile, GAIL also has been condemned for its failure to ensure quantity of natural gas being used by fertilizer companies for manufacturing non-fertilizer products and its billing at market price instead of subsidised price, which in turn resulted into consequent substantial under recovery in the gas pool account besides extra avoidable burden on government subsidy towards fertilizer production.

CAG has also pulled up the state-owned firm for its failure to recover Rs 29.78 crore from Mukesh Ambani-owned Reliance Industries (RIL) in absence of effective regular clause in the gas supply agreement with RIL for recovery of charges levied for over drawal of gas beyond the allocated quantity.

GAIL India Share Price

167.45 1.80 (1.09%)
07-May-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 167.45
Gujarat Gas 409.00
Indraprastha Gas 169.90
Mahanagar Gas 1180.15
Adani Total Gas 644.20
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×