Reliance Industries Ltd.

The Comptroller and Auditor General (CAG) is likely to resume audit of Reliance Industries’ (RIL) spending on the KG-D6 gas block early April after issues over scope of the scrutiny are settled to everyone’s satisfaction. The CAG last month suspended audit of spending on the flagging KG-D6 block on account of its differences with the company over scope and extent of the scrutiny.

CAG, on March 12, written to the Oil Ministry, that its audit of KG-D6 would be financial and propriety audit, and the purpose of such scrutiny was to ensure that the government’s financial interests have been safeguarded.

In response to which oil Ministry stated that the audit should be a financial scrutiny, and that the provisions of PSC provide for a government appointed auditor inspecting and auditing all records and documents supporting costs, expenditures, expenses, receipts and income. However, CAG stood in agreement with Oil Ministry’s decision provided the Ministry agreed to issue of requisition of records and access.