The company refutes AAP's allegations

Reliance Industries Limited (RIL) on Tuesday hit out at Aam Admi Party (AAP) stating that the continued tirade of "baseless" allegations being made by the party against it and its chairman Mukesh Ambani appeared to be instigated by "vested interests".

"RIL strongly denies all allegations made by Aam Admi Party (AAP) against Reliance and Mr. Mukesh Ambani in their public meeting recently," the company said in a statement.

The company and its billionaire chairman Mr. Ambani are accused by AAP leader Arvind Kejriwal of managing the United Progressive Alliance (UAP) government and Bharatiya Janata Party (BJP), the principal opposition party, for maximizing profits by availing an approval to inflate gas prices from the KG fields. Mr. Kejriwal has also accused RIL and Mr. Ambani for maintaining secret bank accounts to stash cash abroad.

Denying these allegations, the company’s statement said: "As stated earlier it is being reiterated that neither RIL nor Mr. Mukesh Ambani have or had any illegitimate accounts anywhere in the world. RIL has business interests in several countries with turnover of thousands of crores in rupees. As a part of their normal business, these international subsidiaries of RIL deal with several global banks.”

“These accounts are fully compliant with all regulations and are disclosed in their appropriate jurisdictions and in India,” it added.