CAG waits for pending RIL’s KG-D6 records

The Comptroller and Auditor General (CAG) has said that it has not been provided with full access to all the documents required for the expenditure audit related to Panna-Mukta-Tapti (PMT) and KG-D6 blocks relating to expenditure for previous years up to 2011-12.

For this reason, CAG has recommended the Petroleum Ministry to examine all relevant issues carefully before considering the "desirability of any further approvals" of capital expenditure "except those of an emergent nature."

The detailed documents have been demanded as per Production Sharing Contract (PSC). RIL had objected to Performance Audit by CAG. Now, CAG is conducting only financial audit and performance audit, if it is done, will be performed by Petroleum Ministry and the Directorate General of Hydrocarbons (DGH).

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Financial crisis forces Deccan Charters to put the entire fleet on sale

Deccan Charters, the air travel company which has been offering charter services to pilgrims and businessmen since 1997, has put its entire fleet of aircraft on sale as it struggles with severe financial crisis.

The company is also cutting short its workforce and it has also not paid its employees for more than a year.

Captain GR Gopinath is the managing director of the company. He had also founded Air Deccan which was later bought and merged with Kingfisher Airlines.

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