Where’s the KG D6 audit?

Given Solicitor General Rohinton Nariman’s advise and Reliance Industries Limited’s (RIL) arbitration notice to the government, it was only a matter of time before the government responded—so the government notice to RIL saying it would not be allowed to recover $1.2bn of expenses on the KG Basin gas fields was only to be expected. The language of the notice is quite harsh and should frighten RIL investors since it means a significant dip in profits.

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