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RIL delaying audit, says CAG, Moily defends

July 19, 2013 17:08 IST

RIL delaying audit, says CAG, Moily defends

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With CAG alleging that Mukesh Ambani-run Reliance Industries was delaying furnishing of records for audit, Oil Minister M Veerappa Moily on Friday said there was no problem and "everybody" was cooperating.

"I don't know. That I must find out," he said when asked about the Comptroller and Auditor General of India writing to Oil Secretary complaining about RIL's refusal to provide full assess to financial statements and records for audit of its spending on the flagging eastern offshore KG-D6 gas block.

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Image: Reliance Industries chairman Mukesh Ambani.
Photographs: Reuters

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RIL delaying audit, says CAG, Moily defends

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"We are getting cooperation from everybody. There is no problem at all," he said. "The question is we should not destroy them, then you get destroyed yourself, I am telling you. This is what is going to happen. If you destroy somebody, you get destroyed yourself," Veerappa Moily said.

CAG Principal Director of Audit (Economic and Service Ministries) AM Bajaj in the July 3 letter stated that RIL was providing information sought in phases and some records sought were still pending.

RIL on the other hand says it is collating information sought and will provide it to CAG as and when it is ready.

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Image: Veerappa Moily.


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RIL delaying audit, says CAG, Moily defends

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"We want public sector to be involved (in exploration and production of oil and gas), we want private to be involved. But nothing should be done by breaking the rules or regulation. That we will safeguard. National interest will be safeguarded," Moily said.

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 resolved.

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Image: Reliance Industries' KG-D6 facility located in Andhra Pradesh
Photographs: Reuters

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RIL delaying audit, says CAG, Moily defends

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RIL had previously stated that 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.

CAG too has stated that it is not planning to a do a performance audit of the company but only wants to examine "propriety" of expenses made.

For doing that CAG has been given the discretion of requisitioning records as it deems fit. 


Photographs: Reuters

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