Reliance Industries Share Price in Focus as Bombay High Court Rejects CBI Probe in Gas Theft Case

As per The Livelaw report, The Bombay High Court, on March 27, refused to order a Central Bureau of Investigation (CBI) probe into allegations against Reliance Industries Limited (RIL) of stealing gas valued at over $1.55 billion from Oil and Natural Gas Corporations (ONGC) fields in Andhra Pradesh's Krishna-Godavari Basin. 

Allegations of Gas Theft by Reliance Industries 

The case stems from a petition filed by Jitendra P Maru. The petitioner alleged that Reliance Industries conducted a "massive organised fraud" over the years by unlawfully extracting natural gas from neighbouring ONGC wells.  

This was purportedly done by drilling sideways from RIL's contracted wells into adjacent ONGC property. ONGC officials discovered the unauthorised tapping in 2013 and reported it to the government. 

Independent Investigations Support Allegations 

An investigation by De Golyer and Macnaghten (D&M) confirmed the claims that RIL had accessed ONGC gas reserves without permission.  

The findings led to the A.P. Shah Committee estimating the stolen gas’s value at over $1.55 billion with an added interest of $174.9 million. 

Legal Proceedings and Judgements 

RIL had previously secured an Arbitral Award in its favour, but the Delhi High Court's Division Bench set aside this award on February 14, 2025, ruling it contrary to public policy. 

Read More: Jio Financial Services Arm Invests ₹63.94 Crore in Reliance International Leasing IFSC JV! 

Petition for Criminal Investigation 

The petition argued the alleged conspiracy originated in Mumbai, giving jurisdiction to the CBI for investigation.  

The petitioner requested formal charges against RIL and other involved parties for theft, dishonest misappropriation, and breach of trust. It further asked for the seizure of all pertinent documents, including contracts and investigative reports. 

Reliance Industries Share Price Performance  

As of March 27, 2026, at 1:29 PM, Reliance Industries share price on NSE was trading at ₹1,354.30 down by 4.16% from the previous closing price. 

Conclusion 

The Bombay High Court's refusal to direct a CBI investigation into Reliance Industries’ alleged gas extraction activities leaves significant questions unresolved. Despite independent confirmations of unauthorised gas tapping, the court decided against further probing by the CBI, maintaining its stance on the matter. 

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