PNGRB disposes show cause notice to Adani Gas, approves energy giant Total’s 37.5% stake buy

Adani Gas has got a clean chit from Petroleum and Natural Gas Regulatory Board (PNGRB) and the November 29 show cause notice has been disposed. PNGRB has also approved 37.5 percent stake buy in Adani Gas by French energy giant  Total, reports CNBC-TV18 quoting known sources.

PNGRB had issued a show cause notice because after Adani Gas applied for city gas licenses, there were some change in the shareholding pattern. Initially, Adani Gas was under Adani Enterprise and after that there was a demerger.

Post demerger, there was restructuring in the holding structure and some questions were raised by PNGRB and a show cause notice was issued to Adani Gas on November 29 asking them to explain the changes in the shareholding structure.