Click to play videoNew Delhi: With Samajwadi Party chief Amar Singh lashing out at the Reliance Industries boss two weeks ago over the MTN issue, Prime Minister was forced to send a message to the party leader that the UPA government would not get involved in corporate battles.
But PM’s words have had little effect on Amar Singh, who is persisting with his battle against Mukesh Ambani.
CNN-IBN is in possession of a copy of a letter written by Amar Singh to the SEBI chief, charging Mukesh Ambani-controlled Reliance Petroleum Limited of insider trading to the tune of over a Rs 1000 crore.
This is what the letter says, “On the December 7, 2007, I and a few parliamentarians had written to the honourable minister of finance. Till date I do not find any action being taken against the perpetrators of the crime of insider trading”.
However, the RIL refutes all the allegations. A statement issued by RIL reads, “We are not aware of the allegations in the letter Shri Amar Singh is stated to have written to SEBI Chairman. RIL by itself or through the instrumentality of other entities has not at any stage indulged in any insider trading of RPL shares”.
Joining Amar Singh in this crusade is the SP chief Mulayam Singh Yadav. Just last week, he too wrote to PM, asking him to maintain equidistance from both the brothers. Reliance Industries has so far not commented on Amar Singh's latest tirade. The Congress, too, wasn’t willing to take on their new ally directly.
"It’s not for the government to get into all these corporate battles,” said Cong spokesperson Abhishek Singhvi
It is clear that Amar Singh is becoming a bit of a hot potato for the UPA government to deal with. Trust vote won, his demands seem to be increasing by the day, and his direct attack on Mukesh Ambani will raise further questions over whether corporate battles are being fought through political power games.
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