RIL denies any wrong doing in oil-for-food deals

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New Delhi, August 5: Corporate giant Reliance Industries on Saturday denied any wrong-doing in the United Nations’ oil-for-food programme in Iraq, in which Justice R S Pathak Committee has indicted former external affairs minister Natwar Singh and his son Jagat Singh.

Reacting to a demand for a thorough investigation into its role by CPI-M general secretary Prakash Karat, RIL said in a statement that it “has always followed national and international laws and norms in all its dealings.”

RIL, along with over 100 Indian corporates, figured in the Volcker Commission report last year as contractual and non-contractual beneficiaries.

“The government of India and its various departments have always been kept informed at every stage of our trade and other transactions with foreign countries as required under the rules and regulations,” Mukesh Ambani-controlled RIL said.

Earlier in the day, Karat pointed out that RIL had been named as one of the beneficiaries, saying “it (Reliance) has got the maximum number of oil vouchers. It has paid the maximum surcharge. But no investigation has been carried out against it. I fail to understand why.”

Meanwhile, sources indicated that Enforcement Directorate is looking into every corporate and Indian company that was named in the Volcker report. It has taken statements from the functionaries of a number of these entities. Besides RIL, some of the Tata Group companies and Bajaj Int’l, were among those listed in the report.