New Delhi, Mar 20: The Delhi High Court on Friday quashed the Look Out Circulars (LOCs) issued against former NDTV promoters Prannoy Roy and Radhika Roy in connection with two cases registered by the Central Bureau of Investigation (CBI), reports Bar & Bench..

Justice Sachin Datta said, “The impugned LOC is quashed subject to the petitioners cooperating with the investigation,” reports Bar & Bench. The High Court was informed that the LOCs were issued at the instance of the CBI in relation to two First Information Reports (FIRs) registered in June 2017 and August 2019. While the 2017 case has since been closed by the agency, the 2019 case remains under investigation, with no chargesheet filed so far.

According to the report, the 2017 FIR was based on a complaint by Sanjay Dutt, a director of Quantum Security Private Limited. The complaint alleged that the Roys and their firm RRPR Holdings had secured a loan to acquire a 20% stake in NDTV and entered into a criminal conspiracy with officials of ICICI Bank in the process.

New Delhi, Mar 20: Prime Minister Narendra Modi on Friday spoke to King Hamad Bin Isa Al Khalifa of Bahrain and while discussing with him the current situation in West Asia, condemned attacks on the energy and civilian infrastructure in the region.

During his telephonic conversation with the King of Bahrain, the prime minister reiterated the importance of ensuring freedom of navigation and keeping shipping lines open and secure.

“Had a fruitful discussion with the King of Bahrain, His Majesty King Hamad Bin Isa Al Khalifa. Conveyed warm greetings on the occasion of Eid al-Fitr to him and the people of Bahrain.

“We discussed the current situation in the West Asian region. Condemned attacks on the energy and civilian infrastructure in the region, underscoring their adverse impact on global food, fuel and fertiliser security,” Modi said in a post on X.

The prime minister also thanked the king for his continued support for the well-being of the Indian community in Bahrain.

This was the second time Modi spoke to the king of Bahrain since the US and Israel attacked Iran on February 28. The Islamic Republic also retaliated by attacking several of its Gulf neighbours.

The prime minister has also spoken to several other world leaders, including those from Saudi Arabia, Jordan, the UAE, France, Malaysia, Israel and Iran since the conflict began.

New Delhi, Mar 20: The price of premium or higher-grade petrol price on Friday was increased by Rs 2 per litre while the rate of bulk diesel sold to industrial users was hiked by about Rs 22 a litre, reflecting the spike in global oil prices amid conflict in the Middle-East.

However, the price of normal petrol and diesel remains unchanged.

Premium 95-Octane petrol price in Delhi has been increased from Rs 99.89 per litre to Rs 101.89 in the national capital, industry sources said.

Alongside, bulk or industrial diesel prices were hiked from Rs 87.67 per litre to Rs 109.59 in Delhi.

International oil prices touched USD 119 per barrel on Thursday on intensifying Iran war, before pulling back to around USD 108 a barrel.

A litre of normal petrol in Delhi continues to cost Rs 94.77 while the same grade diesel comes for Rs 87.67 a litre.

Normal petrol typically has an octane rating of 91-92 and is suitable for standard engines, offering adequate performance for everyday driving. Premium petrol, on the other hand, has a higher octane rating of 95-98, making it ideal for high-performance or high-compression engines.

At a media briefing, Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said there is no increase in prices of normal petrol and diesel.

“Some increase is reported in the premium category which hardly makes up for 2-4 per cent of the entire petrol (sold in the country),” she said. “There is no increase in price for the common man.

Pricing decisions, she said, are taken by oil companies independently as petrol and diesel pricing was deregulated in 2010 and 2014 respectively. “It (pricing) is decided by oil marketing companies. Government does not regulate petrol and diesel prices,” she added.

The government is closely monitoring global oil markets, but there is no immediate plan to raise retail fuel prices. Oil marketing companies are expected to absorb the current cost pressure for the time being.

“Our priority is to make energy available to all consumers, which we have been doing all through the crisis. Till now we have not increased the prices,” she added.

Retail petrol and diesel prices have been frozen since April 2022, with fuel retailers like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing losses when crude prices are high and making profits when rates are low.

This meant that when global fuel prices went up in response to elevated crude prices, prices were stable in India. And when softening of crude prices pushed down fuel rates globally, rates in India remained unchanged.

The government wants to continue to shield consumers, and the same policy will continue unless there is a huge spike in crude prices.

India imports 88 per cent of its crude oil needs and roughly half of its natural gas requirement. These mostly come via the Strait of Hormuz. Following the US and Israeli attacks on Iranian government, military and nuclear facilities, Iran warned shipping away from the strait, and insurers withdrew coverage, effectively halting tanker movements.

Prices had risen to USD 119 per barrel in June 2022 in the aftermath of Russia’s invasion of Ukraine. That year, oil companies had nominal profits, but in FY24, they posted record Rs 81,000 crore profit, helping make up for past dent in margins.

This year, the three companies have posted Rs 23,743 crore profit in the December quarter alone.