CAG employed hindsight to hit us, says RIL - Hindustan Times

Mukesh Ambani-led Reliance Industries Ltd (RIL) on Tuesday said the Comptroller and Auditor General (CAG) has used the “benefit of hindsight” to arrive at conclusions that unfairly targeted the company. RIL presented a 250-pages point-by-point reply to CAG on its draft audit findings that charged the company with irregularities in developing India’s largest gas field, the KG-D6 in Andhra Pradesh.

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Reliance’s executive director PMS Prasad, who led the company’s team at the CAG’s exit conference, refused to comment after the meeting. He spent over an hour with the CAG team and are learnt to have refuted most of the charges made by the auditor.

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A source close to Reliance said, “the draft CAG report had found nothing to suggest that Reliance indulged in ‘gold-plating’ — placing orders on its own affiliates at inflated costs — or that payments made to vendors came back to Reliance”.

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CAG employed hindsight to hit us, says RIL - Hindustan Times