Miffed Reliance Returns Bank Guarantee Citing Non Compliance with Gas Price Hike Terms

摘要

Miffed at the state's non compliance with stated gas price hike which was to come into effect post elections, RIL has claimed that it had already supplied gas worth Rs. 1000 crore without GSPAs or any security for payment being in place. Under the circumstances, with a view to avoid any further procedural delay RIL had submitted the bank guarantee, claimed the company. RIL has also submitted that the Bank Guarantee furnished by them is completely compliant and sufficient for the purpose for which it is intended as per Para 1.10 of the Domestic Natural Gas Price Guidelines 2014.