"The repeated adjournment initiated by Congress in both Houses on the Gujarat gas deal is factually baseless and motivated. The Gujarat State Petroleum Corporation has already circulated the Carried Interest Agreement with GeoGlobal Resources in 2010 itself," BJP chief spokesperson Ravi Shankar Prasad said.
He further maintained that GSPC has also written five letters to ministry of Petroleum and Natural Gas requesting modification of the production sharing contract which has not been done for last more than two years.
"Therefore, the Union Ministry of Petroleum is at fault and there has been no production till date from the gas block nor even a single farthing paid. These allegations against Modi and GSPC are completely baseless and mischievous," Prasad said.
Meanwhile, Tapan Ray, Managing Director of GSPC, has written a letter to the editor of Tehelka magazine- which carried the story- denying all allegations against it as baseless and without complete appraisal of facts.
Congress members had displayed copies of the magazine in the House and raised slogans against Modi. They demanded a CBI inquiry into the matter.
The news report alleges that the Gujarat government's deal has led to a windfall gain of Rs 20,000 Crore to GeoGlobal Resources which was given a 10 per cent stake in a gas exploration project allegedly for nothing.