Anil Dhirubhai Ambani Group (ADAG) has charged Mukesh Ambani-led Reliance Industries Limited (RIL) with working against it and indulging in a campaign to stall the public offer of Reliance Power. But RIL countered the allegations saying this was an attempt to ‘cover up governance issues.’

ADA Group firm Reliance Energy Limited (REL) also named over a dozen executives and associates including V Balasubramaniam, Manoj Modi, A Shankar and Deepayan Mazumdar in a complaint filed before market regulator Sebi and sought a probe.

“It is our definite information that the entire campaign of disinformation, forgeries and malicious rumours has been orchestrated at the behest of Reliance Industries”  REL alleged in a letter to SEBI last week. However, RIL group President for Corporate Communications Paresh Chaudhry told PTI, “We are more amused than shocked over the frivolous allegations. It is an obvious malicious attempt to cover up significant governance issues.”