The Hindu Business Line : `Govt looking into new issues raised by Anil Ambani'

THE Company Affairs Minister, Mr Prem Chand Gupta, said on Saturday that he was awaiting the "final report" on certain "new issues" raised by the Reliance Industries Vice-Chairman and Managing Director, Mr Anil Ambani.

Mr Anil Ambani, who is engaged in a tussle with elder brother, Mr Mukesh Ambani, over the ownership of Reliance Group companies, had been raising certain corporate governance issues.

In the board meeting of RIL on April 27, Mr Anil Ambani had declined to sign the financial statements of the company for the year-ended March 31, 2005.

"Mr Anil had earlier raised certain issues on missing papers and files. We looked into it and found that the allegations were not correct. He has now raised certain new issues which are being looked into," Mr Gupta told newspersons on the sidelines of a seminar on `corporate frauds' here on Saturday.

Mr Gupta, however, declined to elaborate on the new issues. " I can't comment on the matter until I receive the final report. The Government is aware of its duties. We are looking into it," he said.

Stating that the Reliance Group was a large corporate group and significant contributor to the gross domestic product, Mr Gupta said that it would not be proper to make any comment just on the basis of speculation.

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