SC likely to review Reliance gas price hike today

New Delhi: The Supreme Court on Tuesday will hear the PILs challenging the Centre's decision to allow Reliance Industries to raise the price of natural gas from April 1. A bench headed by Chief Justice P Sathasivam had earlier adjourned the hearing as the Centre has not filed its response. The court was hearing two PILs---one filed by senior CPI MP Gurudas Dasgupta and other by an NGO Common Cause-- challenging the government decision to increase the price of natural gas. The apex court had issued notice to the Centre, Reliance Industries Ltd (RIL) and others on a PIL seeking cancellation of contract for exploration of oil and gas concerning the Krishna-Godavari block and to impose penalty for failure in adhering to commitments. The petitioners also sought a direction for a thorough audit by CAG of the working of the production sharing contract (PSC) governing KG block, gold plating by RIL, the underproduction by RIL and all related issues. Source :  http://zeenews.india.com/business/news/companies/sc-likely-to-review-reliance-gas-price-hike-today_95532.html