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Cong seeks Modi's reply on dubious gas deal

New Delhi, Dec 3, 2012, DHNS: :

Gujarat Chief Minister Narendra Modi has landed in trouble, with the Congress demanding a “responsible” clarification on a recent media report on his government entering into a “scandalous” contract with a “dubious” company for a gas exploration project.

GeoGlobal

The BJP government in Gujarat allegedly inked a deal in 2003 with GeoGlobal, a Barbados-based company with a capital of just $ 64, even as it did not pay a single cent for its stake in an expansive gas field at the Krishna-Godavari basin that the state government had won through bidding.


An Indian company, Jubiliant Enpro Private Limited, was also a partner in the deal.
Moreover, the 10 per cent share to the cost of exploration of the company, owned by one Jean Paul Roy, was allegedly borne by the Gujarat State Petroleum Corporation (GSPC), a public sector unit.

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