A bench of Acting Chief Justice A K Sikri and Justice Rajiv Sahai Endlaw reserved its order after the counsel for PNGRB and IGL, the sole supplier of PNG and CNG in Delhi and its suburbs, completed their arguments.
The Board also assured the bench that since the judgement is reserved, no coercive steps would be taken against the state-owned IGL.
Earlier, defending the Board's decision, Additional Solicitor General A S Chandhiok said PNGRB is empowered to frame regulations in the interest of the general public and oil and gas companies are bound to follow them.
"I am only fixing the transportation tariff and I am not fixing the maximum retail price," the senior lawyer said, adding IGL is not the consumer and benefit of the regulation would not go to the company.
The bench was hearing IGL's plea against the order of the PNGRB which has slashed network tariff and CNG compression charge and asked IGL to refund the excess amount charged by it from consumers since 2008.
Appearing for IGL, senior counsel Parag Tripathy took the ground that the regulator lacked the power to fix network tariff and compression charge for PNG and CNG, which, in any case, cannot be exercised with "retrospective" effect. (MORE)
