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Petroleum and Natural Gas Regulatory Board (PNGRB) has terminated the license of state owned GAIL to build Surat-Paradip natural gas pipeline. The regulatory body got encashed a quarter of performance bank guarantee i.e. Rs. 5 crore when the latter failed to begin with the project for six years. GAIL failed to submit the requisite BG within 15 days following which, its license has been terminated.
