“Neither Reliance Industries Limited nor Mr. Mukesh Ambani had any accounts with HSBC in Geneva”

Mumbai, 9 November 2012

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 a turnover of thousands of crores of 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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