Reliance may win gas price hike with guarantees

November 27, 2013

MoilyMumbai, Nov 27: Reliance Industries may be allowed to hike rates for its gas from April after it offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output, the petroleum minister said.

In June, India approved a move to higher, market-related rates for locally-produced gas from April 2014, but the finance ministry later said prices for Reliance should be capped because the company's gas production from the offshore D6 block was far below its supply commitment.

Reliance, which operates the D6 block off India's eastern coast, has reported a sharp decline in gas output since 2010. Reliance and partner BP have cited geological complexities for the fall in output, but the oil regulator believes they failed to drill enough wells.

Falling output had already prompted the government to disallow proportionate cost recovery to Reliance, leading to arbitration proceedings over the issue.

"They have come forward with the proposal for bank guarantees. There are some arbitration proceedings pending. Till that is settled, they will submit bank guarantees," Petroleum Minister Veerappa Moily told reporters at an industry event on Tuesday in Mumbai.

Gas from D6 was earmarked for strategic domestic industries including fertiliser production, cooking gas and power, but has fallen so much that only some fertiliser plants now get supplies from the offshore block.

"We will put up a Cabinet note in 10-15 days. Our ministry is concerned because we are keen to close the issue," he added.

A spokesman for Reliance, controlled by India's richest man, Mukesh Ambani, declined to comment on the matter.

The minister did not disclose the amount of guarantees, although media reports have earlier estimated them at $135 million per quarter.

India, which imports nearly 80 per cent of its oil and a quarter of its gas requirement, hopes to launch a new round of auctions for oil and gas blocks by mid-January, Moily said.

No going back on gas price hikes: Moily

Mumbai: Oil Minister M Veerappa Moily has ruled out reversal of the decision to double natural gas prices from April 1 next year and said that the notification on this will be issued shortly.

"Absolutely, there is no question of reversing the decision to hike natural gas prices, as proposed by the Rangarajan panel report, or going back on the decision," Moily told reporters.

"The notification regarding the implementation of the new price formula will be issued shortly," he said here, a day after meeting investors, bankers and analysts ahead of the forthcoming NELP round X auctions from mid-January.

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August 3,2020

Aug 3: Iqbal Ansari, who was a litigant in the Ayodhya land dispute case, has decided to gift a 'Ram nami' stole and a copy of the Ramcharitmanas to Prime Minister Narendra Modi when he attends the bhoomi pujan ceremony for the Ram temple here on Wednesday.

"Yes, I have received the invitation from Shri Ram Janmabhoomi Teerth Kshetra Trust for the bhoomi pujan ceremony. I will certainly attend it. The dispute is over now after the court's verdict," Ansari, 69, told .

"Our Prime Minister is coming. I will meet him and give him a 'Ramnami' stole (with Ram's name written on it) and Ramcharitmanas as a present," Ansari said.

His father Hashim Ansari, the oldest litigant in the Babri Masjid-Ram Janmabhoomi land dispute case, died at the age of 95 in 2016 after which the son started pursuing the case in the court.

Talking about Wednesday's ground-breaking ceremony to mark the beginning of the construction of a grand Ram temple here, Ansari said, "I belong to Ayodhya. All this (temple's construction) will change the fate of Ayodhya. We all want our child to get better opportunities".

He further said, "I respect sadhus and saints. I am happy to have received the invitation for the ceremony. I think it is Lord Ram's will that I attend it".

When asked what he would have done had the court decided the case in his favour, Ansari said he had wanted the construction of a school and a hospital on the disputed land.

"I feel the city needs development. The future of our children should be safe and secure and they should get employment. Dispute in the name of religion should end now and we should let the city witness a new beginning," he said.

The Supreme Court had in November last year paved the way for the construction of a Ram temple by a Trust at the disputed site of the Babri Masjid's demolition in Ayodhya, and directed the Centre to allot an alternative 5-acre plot to the Sunni Waqf Board for building a new mosque at a "prominent" place in the holy town in Uttar Pradesh.

The state government has allotted a five-acre land in Dhannipur village in Sohaval Tehsil of Ayodhya for the mosque's construction.

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June 3,2020

New Delhi, Jun 3: Over 1 lakh scanned copies of Indians' national IDs, including Aadhaar, PAN card and passport, have been put on dark web for sale, cyber intelligence firm Cyble said on Wednesday.

The leaked data seems to have originated from a third party and not from the government system, according to a report by Cyble.

"We came across a non-reputed actor who is currently selling over 1 lakh Indian National IDs on the dark net. With such a low reputation, ideally, we would have skipped this; however, the samples shared by the actor intrigued our interest -- and also the volume. The actor is alleged to have access to over 1 lakh IDs from different places in India," Cyble said.

The personal data leaked by cyber criminals leads to various nefarious activities such as identity thefts, scams, and corporate espionage. Many criminals use the personal details in the IDs to win trust of the people over a phone call for fraudulent activities.

Cyber criminals leak personal data of 2.9 cr job-seeking Indians on dark web for free

The Cyble researchers acquired around 1,000 IDs from the seller and confirmed that the scanned IDs belong to Indians.

"Preliminary analysis suggests that the data originated from a third party, and no indication or artefact is indicating that it came from a government system. At this point, Cyble researchers are still investigating this further -- we are hoping to share an update soon," Cyble said.

The scanned ID documents indicate that the data may have been leaked from a company's data base in the segment where they have to comply with 'Know Your Customer' (KYC) norms.

"Cyble researchers have also learned about a surge in KYC and banking scams -- leaks such as this are often used by scammers to target individuals, especially elderlies," Cyble said.

The cyber intelligence firm has recommended people to refrain from sharing personal information especially financial information over phone, e-mail or SMS.

"Regularly monitor your financial transaction, if you notice any suspicious transaction, contact your bank immediately," the company said.

In May, Cyble showed two instances where personal data of 7.65 crore Indians have been put on sale in the dark web. In one instance, the seller claimed to have sourced data of 4.75 crore Indians from online directory Truecaller and in other, the seller claimed to have sourced from job websites.

Truecaller, however, had denied the claim of breach in its database.

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May 15,2020

Thiruvananthapuram: Kerala activist Rehana Fathima has been asked to take compulsory retirement from BSNL after she was embroiled in Sabarimala row.

Stating that her attempt to enter the shrine of celibate god in 2018 had spoiled the reputation of the company among customers, the BSNL, in its order asked her to take compulsory retirement, further claiming that her acts were “subversive of discipline and amount to misconduct”.

She was suspended from service following her arrest in November 2018 over Facebook posts.

Fathima, who is a technician with the state-run communications company, said she will explore legal remedies against the order sent by her employer.

The Fathima hit headlines when she attempted to enter the Sabarimala shrine, which has traditionally been closed to women in the age group of 10-50 years.

She did after the Supreme Court order allowing entry of women in the age group of 10-50.

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