Lok Sabha
Government has issued an order in exercise of powers u/s 233 B of the Companies Act, 1956 that audit of cost records as maintained under Cost Accounting Records (Petroleum Industry) Rules, 2002 be conducted in respect of the companies indicated in the table below, for the year ending 31.03.07 and every financial year thereafter.
The physical and financial activities of oil PSUs are monitored by the Ministry of Petroleum and Natural Gas through regular quarterly performance review meetings. Besides, Petroleum & Natural Gas Regulatory Board is being set up to promote competition in the oil and gas sector, ensure transparency and to protect the interest of the consumers.
Table| Sl. No. | Name of the Company |
| 1 | Oil & Natural Gas Corporation |
| 2 | Gas Authority of India Ltd. |
| 3 | Hindustan Petroleum Corporation Ltd. |
| 4 | Indian Oil Corporation Ltd. |
| 5 | Bharat Petroleum Corporation Ltd. |
| 6 | IBP Co.Ltd. |
| 7 | Balmer Lawrie & Co. Ltd. |
| 8 | Oil India Ltd. |
| 9 | Chennai Petroleum Corporation Ltd. |
| 10 | Bongaigaon Refinery & Petrochemicals Ltd. |
| 11 | Mangalore Refinery & Petrochemicals Ltd. |
| 12 | Numaligarh Refinery Ltd. |
This information was given by Shri Prem Chand Gupta, Minister of Company Affairs in reply to the questions raised by Shri Kinjarapu Yerrannaidu in Lok Sabha today.
BY/SL-11/07