Supreme court reserves verdict on GAIL’s appeal -Governance Now

Supreme court reserves verdict on GAIL’s appeal

GAIL has challenged the Gujarat high court’s order which prevented it from severing tied with Gujarat state petroleum corporation

GN Bureau | September 6, 2013

The wait just got prolonged for GAIL (India) when on Thursday the supreme court reserved its verdict on an appeal filed by the PSU. GAIL had challenged the Gujarat high court’s order that repealed its decision to terminate contract with the state owned oil and natural gas exploration company, Gujarat state petroleum corporation (GPSC), for providing natural gas imported from Qatar.

The high court had also asked GAIL to engage in a bona fide manner in fixing gas prices with the state PSU from January 1, 2014.

GAIL had signed a 15 year contract with GPSC in 2004 to provide natural gas. As per the contract, the price renewal for the gas to be provided from January 1, 2014 onwards was to be negotiated by the two parties by December 31, 2011.

Comments

Other News

When Nandini Satpathy told Biju Patnaik: ‘I’ll sit on the chair you are sitting on’

Nandini Satpathy: The Iron Lady of Orissa By Pallavi Rebbapragada Simon and Schuster India, 321 pages, Rs 765

Elections 2024: 1,351 candidates in fray for Phase 3

As many as 1,351 candidates from 12 states /UTs are contesting elections in Phase 3 of Lok Sabha Elections 2024. The number includes eight contesting candidates for the adjourned poll in 29-Betul (ST) PC of Madhya Pradesh. Additionally, one candidate from Surat PC in Gujarat has been elected unopp

2023-24 net direct tax collections exceed budget estimates by 7.40%

The provisional figures of direct tax collections for the financial year 2023-24 show that net collections are at Rs. 19.58 lakh crore, 17.70% more than Rs. 16.64 lakh crore in 2022-23. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023-24 were fixed at Rs. 18.

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool