Reliance denies IAC allegations

Reliance Industries Limited (RIL) Wednesday denied allegations made by India Against Corruption (IAC), terming them as "devoid of any truth or substance whatsoever", and made at the behest of vested interests.

"The deep water exploration project in the KG-D6 basin has deployed the best technical resources and has been recognised by the oil and gas industry as one of the very best in its class," a spokesman for the company said here.

This project has added great economic value to the country and by all accounts is a project of which India can be justly proud, the spokesman added.

"Irresponsible allegations made by the IAC at the behest of vested interests without basic understanding of the complexities of a project of this nature do not merit a response," the RIL official concluded.

IAC member Arvind Kejriwal told reporters at a press conference in Delhi in the afternoon that Jaipal Reddy was removed as petroleum minister for refusing a proposal of Mukesh Ambani-led RIL to hike the charges of the gas it was supplying to state-owned power plants.

He demanded that the allotment of the Krishna Godavari basin to the company be cancelled.