An India court Tuesday set May 22 as the next date for hearing a plea from Indraprastha Gas Ltd. (532514.BY) against the upstream regulator's tariff cut order, a company spokesman said.
The Petroleum & Natural Gas Regulatory Board on April 9 directed Indraprastha to cut the sales price of natural gas and refund the excess price charged from consumers in the last three years.
The New Delhi-based company sells natural gas to automobiles, households and industrial users in and around the capital city.
Indraprastha Gas is a joint venture of GAIL (India) Ltd. (532155.BY), Bharat Petroleum Corp. (500547.BY) and the state government of New Delhi.
- By Rakesh Sharma, Dow Jones Newswires; +91-11-4356-3334; [email protected]