The private sector has had run- ins with the Government,
The Ministry of Petroleum and Natural Gas has refused to clear Rs 6,400 crore that was due to Reliance Industries ( RIL) as part of its cost recovery from KG- D6 gas block. The ministry says production fell by almost half in 2011 and RIL has not drilled enough wells. Adani’s company has been named in the Karnataka Lokayukta’s report on illegal mining in the state. He denies any wrongdoing. Adani Power is suffering from acute coal shortage. It posted a loss of Rs 294 crore between January and March 2012. The telecom tycoon has called telecom regulator TRAI’S recommendations on re- auction of cancelled 2G spectrum “catastrophic”. According to him, this has been the most destructive period of regulatory environment in the last 16 years. His aluminum refinery in Odisha is making losses because it has not been able to secure bauxite mine permits. Agarwal’s Vedanta University is stalled due to land issues. His acquisition of Cairn India was delayed over a royaltysharing dispute with ONGC. The Government has said that it will recover Rs 20,000 crore in taxes from Vodafone after passing a retrospective tax amendment in the Budget. The company stands to lose significantly from TRAI’S new recommendations on refarming of spectrum.