Adani Gas signs pact to acquire defaulter Jay Madhok Energy’s 3 city gas licenses

NEW DELHI: Adani Gas Ltd on Wednesday announced the acquisition of city gas licences for Ludhiana, Jalandhar and Kutch (East) from Jay Madhok Energy for an undisclosed sum of money.

Jay Madhok Energy Pvt Ltd has been show-caused by the oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) over defaulting on timelines and alleged irregularities in the acquisition of the city gas licence.