New Delhi: Reliance Industries Limited (RIL) on Sunday denied any wrong-doing in the United Nations (UN) Oil-for-Food Programme in Iraq, in which Justice R S Pathak Committee has indicted former External Affairs Minister Natwar Singh and his son Jagat Singh.
RIL said in a statement that it "has always followed national and international laws and norms in all its dealings", when Communist Party of India-Marxist (CPI-M) General Secretary Prakash Karat demanded a thorough investigation into its role.
RIL, along with over 100 Indian corporates, figured in the Volcker Commission report last year as contractual and non-contractual beneficiaries.
"The Government of India and its various departments have always been kept informed at every stage of our trade and other transactions with foreign countries as required under the rules and regulations," Mukesh Ambani-controlled RIL said in a statement.
Earlier in the day, Karat pointed out that RIL had been named as one of the beneficiaries, saying "it (Reliance) has got the maximum number of oil vouchers. It has paid the maximum surcharge. But no investigation has been carried out against it. I fail to understand why."
Meanwhile, sources indicated that Enforcement Directorate is looking into every corporate and Indian company that was named in the Volcker report and has also taken statements from the Functionaries of a number of these entities.
Besides RIL, some of the Tata group companies, Bajaj International, Balmer Lawrie, Alembic Chemicals, Ajanata Pharma, Kirloskar Engines and Ranbaxy were among those listed in the Volcker Report.
The report based the evidence of illicit payment to the Iraqi Government for the oil deal by corporates the world over either on actual data (whole or in part) or projections.
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