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India Court To Hear Indraprastha's Plea Against Tariff Cut Order On May 22

05/08/2012 | 08:47am US/Eastern

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; rakesh.sharma@dowjones.com

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