Forced on backfoot by Arvind Kejriwal, Reliance Industries explains away investments, invokes ICICI Bank

Mar 04 2014, 11:15 IST
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Arvind Kejriwal's accusation fobbed off by Mukesh Ambani's Reliance Industries, says did no wrong. Reuters Arvind Kejriwal's accusation fobbed off by Mukesh Ambani's Reliance Industries, says did no wrong. Reuters
SummaryArvind Kejriwal's accusation fobbed off by Mukesh Ambani's Reliance Industries, says did no wrong.

Rejecting allegations of money laundering, made by Arvind Kejriwal's AAP, Mukesh Ambani's Reliance Industries (RIL) today said the investment made by Biometrix were from loans raised from the Singapore branch of ICICI Bank.

Circulating what it said were disbursement notices issued by Singapore Branch of ICICI Bank to Biometrix to cover the entire amount investment by the firm in Indian entities, Reliance Industries said "unacceptable controversy and disrepute" has been inflicted on it by false and defamatory allegations.

In a statement, the company said AAP leader Prashant Bhushan had made "false and baseless allegations" against it in proceedings filed in November 2012 in the Delhi High Court.

"These allegations have been appropriately responded to and the disbursement notices of ICICI Bank have been placed on record," it said. "Reporting Bhushan's selective leaks of old information already residing in judicial proceedings is misleading global public at large and defaming and maligning our corporate reputation."

It also cautioned the media against "mechanical replaying of allegations and insinuations" saying they were defamatory and unacceptable.

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