Indraprastha Gas Limited (IGL) has agreed to takeover the supply of natural gas in Gurugram as an ongoing concern from the Haryana City Gas Distribution Limited (HCGDL), acceding to a suggestion made by the Additional Solicitor General, ANS Nadkarni.
The Supreme Court recorded the same in an order passed in an ongoing case between HCGDL and IGL over the supply of natural gas in Gurugram. The latest development may signal an amicable resolution of the long pending dispute.
IGL had challenged the Petroleum and Natural Regulatory Board’s decision to allow HCGDL’s operations in Gurugram. It was IGL’s case that they had been given permission for the same in 2004, prior to the Regulatory Board’s existence.
While suggesting IGL’s takeover last week, the Supreme Court has also directed that Deloitte Haskins and Sells LLP be made independent valuers of the ongoing concern including the infrastructure involved. Accordingly, the Court has directed that the valuation be carried out by Deloitte Haskins and Sells LLP by November 30. The expenses involved for the same is to be borne by both IGL and HCGDL.
As stated in the order,
“It is also agreed between the parties that the valuation of the ongoing concern including the infrastructure (pipeline, etc.) may be valued by an independent valuer such as Deloitte Haskins and Sells LLP.
A copy of this order may be furnished to Deloitte Haskins and Sells LLP by learned counsel for the parties with a request to give the valuation within four weeks from today and in any case by 30th November, 2018. The expenses to be incurred by Deloitte Haskins and Sells LLP will be borne equally by HCGDL and IGL.“
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