Full text: Reliance denies allegations by India Against Corruption

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New Delhi:  Hours after Arvind Kejriwal accused industrialists Mukesh and Anil Ambani of allegedly siphoning crores of black money to the Geneva branch of HSBC Bank, Reliance clarified in a press statement 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.


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