Indraprastha Gas Limited (IGL) rose more than 5% and touched the day’s high of Rs202.80 on the BSE, ahead of the Delhi High Court decision on the company’s case against Petroleum and Natural Gas Regulatory Authority (PNGRB).
The Delhi High Court is likely to deliver verdict on the case between the gas utility firm and government regulator Petroleum and Natural Gas Regulatory Board (PNGRB) today (June 01, 2012).
IGL, the sole distributor of compressed natural gas ( CNG) and piped natural gas (PNG) in Delhi and adjoining areas, in its petition had challenged the regulator's order terming it to be invalid. It had contended that the regulator had no right to fix the network tariff and compression charge for CNG supplied by it to consumers.
In April, the regulator (PNGRB) had ordered IGL to cut network tariff by around 60% retrospectively from April 2008.
....more info
The Delhi High Court is likely to deliver verdict on the case between the gas utility firm and government regulator Petroleum and Natural Gas Regulatory Board (PNGRB) today (June 01, 2012).
IGL, the sole distributor of compressed natural gas ( CNG) and piped natural gas (PNG) in Delhi and adjoining areas, in its petition had challenged the regulator's order terming it to be invalid. It had contended that the regulator had no right to fix the network tariff and compression charge for CNG supplied by it to consumers.
In April, the regulator (PNGRB) had ordered IGL to cut network tariff by around 60% retrospectively from April 2008.
....more info