'Nothing concrete will come out of FIR against Mukesh'

RIL director YP Trivedi says Kejriwal has taken this step because he got an eye on Lok Sabha polls

First Information Report (FRI) filed by the Aam Aadmi Party led government against Reliance Industries CMD Mukesh Ambani and others over gas pricing has evoked a mixed reactions. In an exclusive interview with Sanjay Jog, RIL director and Supreme Court advocate YP Trivedi, who is also the Nationalist Congress Party MP, alleged that it was to politicize the issue in the run up to the Lok Sabha polls.

 

What you have to say about AAP led government's move to FIR against RIL CMD Mukesh Ambani? 

 

It is only an attempt to sensationalize the thing. The gas price fixation is highly technical issue on which the empowered group of ministers (EGOM) has taken a view. The Cabinet Committee on Economic Affairs (CCEA) has taken a view and experts have given their opinion. The Rangarajan committee has also given its verdict which is accepted by the government.Whether it  is retrospective or not is a part of arbitration and it is thus subjudice.

Today country is importing oil and a large chunck of foreign exchange is spent on it. If we want to be self sufficient in oil and gas then we have to have foreign direct investment (FDI) in the field of exploration and production. Unless we give them an attractive price they wiill not come.

 

Oil exploration is a very uncertain field. Even after inventing the well, you may not get the oil and gas. In such dicey situation the cost is going to mount up. Delhi's former chief minister Arvind Kejriwal should have a research team of technocrats to advise him on this complicated subject. He has only sensationalised the issue without proper study.

 

What is your comment on the Kejriwal led government's timing to file FIR?

 

Arvind Kejriwal has got an eye on Lok Sabha elections. Therefore, he has taken this step. He has miserably failed to deliver on  his promises during his 49 day government. If he could have continued to give good and honest governance the people would have supported his government.

 

The AAP led government also cited a CAG report which alleged irregularities by RIL in the KG D6 project including an increase in capital expenditure .  What is your comment?

 

Kejriwal has referred to CAG report which he has not studied thoroughly. CAG in its report has not talked about gas pricing but items of exppenditure put by RIL in costing.

 

The Delhi government's anti-corruption branch (ACB) alleged in its FIR that Centre's approval to RIL on expenditure of $8.8 billion to increase production of gas from the KG basin has paved the way for a "future windfall" revenue of Rs 1.2 lakh crore. What is your response?

 

The stock exchange knows better than Arvind Kejriwal. If RIL would have to make such a windfall gain, the price of RIL share would have been Rs 5,000. But it has not happened because the stock exchange knows better.  This shows total irresponsible behaviour on Kejeriwal's part.

 

What is the fate of FIR as Kejriwal government has resigned?

 

Nothing concrete will come out from the FIR.The court will throw it out. There are no material facts. For filing FIR you do not need any expertise. No charges will be framed.