State oil firms are under the scanner of the Comptroller & Auditor General of India for supplying diesel at a discount to defense establishments and Indian Railways and claim compensation on the revenue loss from upstream companies and the government. Executives in state-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum have accepted that they offer small discounts to these customers and denied recovering any part of the amount from the...

Exact math used by the government’s auditor in its calculation of losses and the process it followed still unclear The Comptroller and Auditor General of India (CAG) may have taken a cue from the Public Accounts Committee (PAC) while calculating losses arising from the improper allocation of second-generation spectrum to telecom companies in 2008 (or the so-called 2G scam), according to documents reviewed by Mint. This is not to suggest that the...

-The Hindu   Making it clear that it will not go into the policy mechanism of deregulation, the Supreme Court on Friday declined to entertain a public interest writ petition questioning the repeated hike in the price of petroleum products. Chief Justice S.H. Kapadia told counsel Upamanyu Hazarika, appearing for the All-India Youth Federation, “We cannot decide on pricing. It is a policy and legislative matter. We will not interfere in it. The...

-The Times of India   The court orders directing Times Now to deposit Rs 100 crore as a precondition for appeal in a defamation case involving Justice P B Sawant appears to have become a rallying point for the media, both electronic and print. On Friday, three top media organizations joined two journalist bodies, Editors' Guild of India and Foundation of Media Professionals, to stress that such orders pose a threat to the...

-The Telegraph   An international sympathiser group for Indian Maoists has declared it will protest outside offices of Indian multinationals worldwide, adding to problems the government already faces in combating the home-grown rebels. Last week, the International Committee to Support the People’s War in India announced the plan to launch its “international week of action from January 14 to 22” next year to support the CPI (Maoist)’s “people’s war” against the Indian state. The...