Reliance Group welcomes CBI probe into Radia tapes

Anil Ambani-led Reliance Group on Saturday welcomed the CBI probe ordered by the SC into criminality arising from analysis of Niira Radia's taped conversations, saying it has been a victim of a mischievous campaign by unscrupulous corporate rivals.

Anil Ambani-led Reliance Group on Saturday welcomed the CBI probe ordered by the Supreme Court into criminality arising from analysis of Niira Radia's taped conversations, saying it has been a victim of a mischievous campaign by unscrupulous corporate rivals.

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"We welcome the independent time-bound enquiries by the CBI, monitored by the Supreme Court, which will clearly establish our bona fides, and once and for all prove beyond doubt that we have been the unfortunate victims of a mischievous campaign of calumny and vilification conducted at the behest of our unscrupulous corporate rivals over the past five years," Reliance Group said in a statement.

Reacting to the Supreme Court asking the CBI to probe alleged favours granted to corporate houses, as brought out in the Radia tapes, the Group said it was never allocated any iron ore mines and it was not even in that business.

"The hollowness of the allegations is evident from the fact that we have not been allotted any iron ore mines, and we are in fact not in that business at all."

On the allocation of coal mines to its Sasan power project, it said the allotment was done to a 100% government-owned company in 2006.

"Reliance Power had (in 2006) not even won the project. The government disinvested its shares to Reliance pursuant to a global tender in the year 2007," the statement said.

The use of surplus coal from the Sasan ultra mega power project has been approved on two separate occasions by two empowered group of ministers (EGoMs) headed by Pranab Mukherjee.

"The Delhi high court has also dismissed a petition in the year 2009 on this matter filed against the government by Tata Power (which was the client of the lobbyist spreading allegations in this regard)," it said.

The lobbyist referred to is Radia.

"Lastly, the alleged loss of revenue to the exchequer by Reliance Communications relates to industry issues involving all telecom operators, including Bharti Airtel, Vodafone, Idea and Tata Telecom, and all operators have already been granted stay orders by the courts against action by the DoT," it added.