RELIANCE INDUSTRIES LTD. - Reliance Industries Ltd reply to clarification sought by the exchange
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| 24 Nov 2017 | |
| The Exchange had sought clarification from Reliance Industries Ltd with respect to news appearing on economictimes.indiatimes.com on November 23, 2017 titled "High Court refuses to stay probe in RIL gas price issue".<BR><BR>The Company response is as follows:<BR><BR>"a) Whether such event stated in published news were taking place? If so, you are advised to provide the said information along with the sequence of events in chronological order.<BR><BR>1. The Anti-Corruption Bureau ("ACB") of the National Capital Territory of Delhi on 14 February 2014, registered a case against office bearers of the Central Government and Reliance Industries Limited ("RIL") without any investigations. <BR><BR>2. RIL filed a Writ Petition in 2014 before the Delhi High Court challenging this action and impugned notifications which were wrongly relied upon by ACB as conferring jurisdiction upon ACB. This Writ Petition is pending before single judge of Delhi High Court with a direction that no coercive steps shall be taken by ACB.<BR><BR>3. A Division Bench of Delhi High Court vide its judgment dated 4 August 2016, has held that ACB of NCT of Delhi does not have jurisdiction to investigate charges against Central Government employees. The Delhi Government has filed a Special Leave Petition ("SLP") before the Supreme Court which is being heard by the Constitutional Bench of the Supreme Court.<BR><BR>4. In view of the judgment of Division Bench of the Delhi High Court defining the jurisdiction of ACB, RIL filed for an application to expedite the hearing of RIL Writ Petition and stay of investigation by ACB. The said applications were listed for hearing before Mr Justice AK Chawla of Delhi High Court on 22 November 2017.<BR><BR>5. During the hearing on 22 November 2017, the Court observed that since the Constitutional Bench of Supreme Court is already hearing the underlying legal issue, it may be prudent to await decision of the Supreme Court and did not grant a stay of further investigation by ACB.<BR><BR>6. The matter has been adjourned to 6 December 2017.<BR> <BR>b) The material impact of this article on the Company.<BR><BR>There is no impact of the article on the Company.<BR> <BR>c) Whether company are aware of any information that has not been announced to the Exchanges under Regulation 30 of Listing Regulations. If so, you are advised to provide the said information and the reasons for not disclosing the same to the Exchange earlier as required under Regulation 30 of the Listing Regulations.<BR><BR>None". | |
| View all announcements for RELIANCE INDUSTRIES LTD. | Source: BSE India |
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