Moily denies favours from corporates

Moily denies favours from corporates

Petroleum minister Veerappa Moily on Wednesday denied favouring corporates as quid pro quo for financial aid to his family trust or to promote a company run by his son.

“I would like to categorically state that there has been no occasion for me to extend any kind of favour or help to any corporate in return for financial assistance to the trust,” Moily said in a statement, a day after Opposition BJP demanded his resignation over the charge.

The statement, however, said in order to effectively work towards achieving its “noble purpose”, the Kisan Sabha Trust, of which Moily is the president, approaches corporates promoting social causes for the benefit of the people at the bottom of the pyramid.

“The trust is run within the legal framework and enjoys exemption under Section 80G of the Income Tax Act. It does not receive any donations from students receiving education free of cost,” the statement said.

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