Prabhat Singh wins oil min. support

Vol 23, PW 1 (31 Oct 19) News in Brief
     

Petronet-LNG managing director Prabhat Singh will be relieved the oil ministry is supporting him against a Delhi High Court order that the anti-corruption Central Vigilance Commission (CVC) investigate him.

On October 10, the ministry filed a 'rejoinder' to the court clarifying that BSE-listed Petronet-LNG is not a state-owned company and therefore does not fall under the CVC's remit. Another hearing is planned on February 10 (2020).

Petronet-LNG filed a counter petition in September challenging the August 20 judgment of the court that Singh should be investigated. During a September 13 hearing the court asked 'whistleblower' and Petronet-LNG president (projects) Rajeev Agarwal, who levelled conflict of interest allegations against Singh, to respond.

"Either he has not filed a reply yet or if he has filed it our lawyers have not been notified," says a company source. "But now with the oil ministry rejoinder the court will decide" A government circular issued by the Department of Personnel and Training on January 15 (2019) clearly states the CVC can only investigate companies where the government share is at least 51% of paid up capital.

At Petronet-LNG, state-owned promoters BPCL, GAIL, IndianOil and ONGC with 12.5% each own a combined 50%.