OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
RIL, which had made four consecutive gas discoveries with close to 500 billion cubic feet of in-place reserves in block, proposed immediate relinquishment, its minority partner Hardy Oil and Gas plc of UK said on Wednesday.
An expert panel approved policy for development of gas fields.
Wholesale inflation fell to a 3-month low of 2.04 per cent in July on decline in prices of food items especially vegetables, government data released on Wednesday showed. The decline in wholesale price index (WPI) based inflation in July came after it rose for four months in a row till June, when it was 3.36 per cent. It was (-) 1.23 per cent in July last year. In April wholesale inflation stood at 1.19 per cent.
The Police on Tuesday claimed to have cracked the sensational murder case involving an ex-service man in Hyderabad, revealing grisly details of the killing of his wife where he allegedly dismembered her, crushed her bones into powder and flushed down the remains in a toilet, all during a day-long 'operation'.
