Jan 27: Adani Gas Ltd's share prices have tanked with the NSE writing to the management seeking confirmation on allegations that PNGRB has threatened to cancel its licences to 13 geographical areas for reportedly, as per the gas regulator's own terminology, "perpetrating a fraud"
8The website has learned that Adani Gas had indeed been served with a strongly worded show cause notice by the regulator, and there is a possibility that the process of cancellation of licence will proceed ahead despite a clarification given by the Adanis. There is also the threat of cancellation of Rs 400 crore of guarantees given by Adani Gas
8While allegations are flying thick and fast, the website also carries here the views of Adani Gas on the subject. "As far as we are concerned, we have given a satisfactory reply," an Adani Gas representative told this website.
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