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Mukesh Ambani controlled Reliance denies allegations by India Against Corruption

New Delhi, Nov 9: Soon after activist-turned-politican Arvind Kejriwal accused Reliance Industries chairman Mukesh Ambani of allegedly siphoning crores of black money to the Geneva branch of HSBC Bank, Reliance issued a press statement clarifying
India TV Business Desk November 09, 2012 18:04 IST
India TV Business Desk
New Delhi, Nov 9: Soon after activist-turned-politican Arvind Kejriwal accused Reliance Industries chairman Mukesh Ambani of allegedly siphoning crores of black money to the Geneva branch of HSBC Bank, Reliance issued a press statement clarifying that "neither Reliance Industries Limited nor Mr. Mukesh Ambani had any accounts with HSBC in Geneva."



Here's the full text of the press statement:

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.