Ambanis deny Arvind Kejriwal's allegations

The Ambani brothers on Friday rejected allegations by Arvind Kejriwal that they had parked blackmoney in HSBC Bank in Geneva and denied that they had any accounts there.

Strongly denying the allegations, Mukesh Ambani-headed Reliance Industries Ltd said neither RIL or Mukesh have or had any "illegitimate" accounts anywhere in the world.

"As part of normal business, international subsidiaries of RIL deal with several global banks including HSBC. These accounts are fully in complaince with all regulations and are disclosed in their appropriate jurisdictions and in India.

"The continued tirade of baseless allegations being made by IAC against us appears to be instigated by vested interests," an RIL statement said.

In a separate statement, the Anil Ambani-headed Reliance Group categorically denied all allegations made by Kejriwal against him. "Mr Anil D Ambani had no bank accounts with HSBC in Geneva," it said.

The Reliance Group statement said it is "regrettable that such baseless allegations are being made by IAC at the behest of vested interests".