New Delhi, June 11: The government has asked Department of Company Affairs to make a detailed examination of allegations of economic frauds against Reliance group of companies raised by Janata Party leader Subramanian Swamy. In a recent letter, Finance Minister Jaswant Singh said he has instructed DCA for a detailed examination of the issues raised by Swamy. The former cabinet minister had written to Singh on May 19 complaining about the alleged "misappropriation of public funds" by Reliance Industries Ltd in violation of Companies Act, Sebi and IPC.
"Recently, the government has decided to constitute a Serious Frauds Cell under DCA. This complaint is fit for consideration of such a cell," Swamy said in his letter to the Finance Minister.
He demanded special audits and probe by regulators Sebi and RBI, Central Vigilance Commission, and professional bodies like ICAI and ICSI.
There were no comments from Reliance Industries on the issue. Bureau Report