Reliance Industries Ltd.

Acknowledging the issues raised by CAG, the Oil Ministry has ordered the Reliance Industries (RIL) for providing records at the earliest. Besides alleging the company for delaying furnishing of records for audit, CAG has informed the Ministry that out of 96 audit requisition issued by them, 28 are either not received or are partially received.Given that Audit of KG-D6 block is a time bound process, ministry on July 22 directed RIL to provide record as early as possible, as agreed by the company to provide the same earlier.

CAG, at the request of the oil ministry, is auditing KG-D6 spending for 2008-09 to 2011-12. It restarted the audit in April after issues like scope and extent of its scrutiny were settled. Initially, RIL raised certain issues relating to scope and coverage of audit to be conducted by the CAG.

As per the company, CAG cannot contractually perform a performance audit on it and Production Sharing Contract (PSC) only provides for a government appointed auditor to verify reasonableness of all charges and credits.