3500 Crore Penalty to Reliance by new government.

[HariPrasad]

That was a Supreme court verdict!

Oh yes but supreme court delivered that judgement on petition of Gujarat Government. Rather than going to supreme court Gujarat government would have done compromise after loosing in high court.

BTW, Nokia has not paid 2000 crores...
So?

May I know to whom?

If they have not paid to Guj Govt. than Guj Govt eill go to court and recover.

Gujarat government did that with ONGC also. HIgh court ordered a payment of Rs 10000 crore.

Royalty dues: ONGC to appeal against Gujarat High Court order | Business Line

 

[Koovie]

Much appreciated news which shows they run inside the county and they don't run the country.

Business men run the economy of India. They spur innovation, contribute to our GDP, employ people etc etc etc...

Punishing them, will punish the entire economy.

 

[HariPrasad]

Because they produced less than they targeted to?

Such socialist moves will eventually play against the GOI if they continue this..

No, reliance is cheating. it does that intentionally to increase price of petroleum product in India. They should have raised the production as per the commitment and fulfill its obligation.

 

[Koovie]

You do have point,but how else do we punish them then?

Thats a difficult question, since everybody needs them, but nobody wants them to run amok.

 

[Rangila]

Oh yes but supreme court delivered that judgement on petition of Gujarat Government. Rather than going to supreme court Gujarat government would have done compromise after loosing in high court.

Similarly Reliance will drag this matter for years in courts...

May I know to whom?

GOI

 

[HariPrasad]

Similarly Reliance will drag this matter for years in courts...

Court do not take much time now a days. Reliance will have to pay penalty with interest.

 

[Sam.]

Business men run the economy of India. They spur innovation, contribute to our GDP, employ people etc etc etc...

Punishing them, will punish the entire economy.

So you are saying because they contribute to economy then they will have free pass in country.There is no one above the law in democracy be it common man or president and prime minister.

Now it might hurt in short term but will benefit more in long term as it will give good message to others.

 

[Rangila]

Court do not take much time now a days. Reliance will have to pay penalty with interest.

You think it would be solved in days!

What is your time frame?
Why interests?

 

[third eye]

Havent heard from Kejriwal for a long time...... What is he upto?

You dont live in the NCR hence are not exposed to his antics.

I hear him on FM radio to / back from work extolling what he ' achieved ' in 49 days and offering to help the BJP in running Delhi and showing how electricity prices can be brought down & how each family can get X ltrs of free water .

In short , generally making a fool of himself but wanting to stay in limelight & memory just in case elections are announced for Delhi - Haryana.

 

[Koovie]

So you are saying because they contribute to economy then they will have free pass in country.There is no one above the law in democracy be it common man or president and prime minister.

Now it might hurt in short term but will benefit more in long term as it will give good message to others.

No, I am not for unchecked companies running amok. But there needs to be a balance. I think this penalty is too much.

And yes, it can very well be against our long term interests. No company, whether its domestic or foreign, hates this kind of involvement by the government.

We live in a globalized world, if they dont like putting their money into India, they will find enough other destinations

 

[Sam.]

No, I am not for unchecked companies running amok. But there needs to be a balance. I think this penalty is too much.

And yes, it can very well be against our long term interests. No company, whether its domestic or foreign, hates this kind of involvement by the government.

We live in a globalized world, if they dont like putting their money into India, they will find enough other destinations

By your logic if some company is profitable then it should not follow any mandate at all?

The government has slapped an additional penalty of $579 million onReliance Industries (RIL) for producing less than targeted natural gas from its KG-D6 block

This is not government involvement but following the rule which put down in binding of the deal.They gave reliance target to achieve and they failed so should be punished.

People shot loud about "Why every project in India get delayed ?" when government do something about it then they cry why the government involvement ?

 

[harpoon]

If businessmen are allowed to flout the norms and go unpunished, how different are we from a Banana Republic.

 

[HariPrasad]

You think it would be solved in days!

What is your time frame?
Why interests?

Not much time doesn't mean one day. It may be an year or 2.

 

[Rangila]

Not much time doesn't mean one day. It may be an year or 2.

This case is full of technical complexity, even the judges will have to rely on technical experts.
There will be motion after motion, audit alone might take single year...

 

[HariPrasad]

This case is full of technical complexity, even the judges will have to rely on technical experts.
There will be motion after motion, audit alone might take single year...

No even 2G licences cancellation didn't take much time.