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Reliance Industries denies allegations made by Arvind Kejriwal

IBNLive.com
Nov 09, 2012 at 06:46pm IST

Mumbai: Reliance Industries Limited has denied all allegations levelled by India Against Corruption Activist-turned-politician Arvind Kejriwal. Kejriwal on Friday said in New Delhi that Mukesh Ambani had stashed Rs 100 crore in black money in the HSBC Bank in Geneva, Switzerland.

But Reliance Industries Limited issued a press release later on Friday, rubbishing all allegations. The company said that neither Reliance Industries Limited nor Mukesh Ambani had any accounts with HSBC in Geneva. The company added that vested interests seemed to be behind such baseless allegations.

Targeting Mukesh Ambani, Kejriwal had claimed that the Reliance Industries Limited Chairman had Rs 100 crore in banks in Switzerland. "Mukesh Ambani has Rs 100 crore in HSBC Bank in Geneva," Kejriwal said, claiming he has got his name from the list of Swiss account holders from sources.

Reliance Industries denies Kejriwal's allegations

The company said that neither Reliance Industries Limited nor Mukesh Ambani had any accounts with HSBC in Geneva.

Below is the full text of Reliance Industries Limited's press release:

Mumbai, November 9, 2012

Neither Reliance Industries Limited nor Mr. Mukesh Ambani had any accounts with HSBC in Geneva

Reliance Industries Limited denies all allegations made by IAC against Reliance and Mr. Mukesh Ambani in their press conference today.

Neither Reliance Industries Limited nor Mr. Mukesh Ambani have or had any illegitimate accounts anywhere in the world.

Reliance Industries Limited has business interests in several countries with turnover of thousands of crores in Rupees. As a part of their normal business, these international subsidiaries of Reliance Industries Limited deal with several global banks including HSBC. These accounts are fully compliant with all regulations and are disclosed in their appropriate jurisdictions and in India.

The continued tirade of baseless allegations being made by IAC against us appears to be instigated by vested interests.

Mukesh's brother Anil Ambani-headed Reliance Group also denied Kejriwal's allegations. "Mr Anil D Ambani had no bank accounts with HSBC in Geneva," the company said.

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