Moneycontrol PRO
HomeNewsBusinessCompaniesCBI searches ex-regulator's home in RIL costs enquiry: Src

CBI searches ex-regulator's home in RIL costs enquiry: Src

The Central Bureau of Investigation (CBI) searched the house of a former upstream regulator on Friday, the first investigative action after the CAG said in a report there may have been inflated costs for some of Reliance Industries' exploration activities.

July 01, 2011 / 20:08 IST
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    The Central Bureau of Investigation (CBI) searched the house of a former upstream regulator on Friday, the first investigative action after the CAG said in a report there may have been inflated costs for some of Reliance Industries' exploration activities.


    The Comptroller and Auditor General (CAG) said the issue related to the development of Reliance's D6 block in the Krishna Godavari basin, India's largest gas field, causing unquantified losses to the government.


    VK Sibal, whose house was being searched, was the chief of the Directorate General of Hydrocarbons, the upstream regulator, when the costs were approved.


    "Yes, the raids are on," said an official of the Central Bureau of Investigation, India's equivalent of the FBI. "They are in connection with the KG basin case."

    Sibal has not so far commented on the case. The oil ministry said on June 13 it would reply to the CAG report within two weeks.

    first published: Jul 1, 2011 02:52 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347