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Audited accounts submitted to RIL: REL

April 29, 2005 19:50 IST

Rejecting the contention of parent company Reliance Industries, headed by Mukesh Ambani, Reliance Energy informed the group's flagship company that it had "duly submitted the audited accounts" for 2004-05.

Responding to a letter sent by RIL company secretary Vinod Ambani on April 27, on the day of its dramatic board meeting where vice chairman and managing director Anil Ambani refused to sign the financial accounts of the flagship company, REL, headed by the younger Ambani, said it had submitted the "audited" accounts for the year on April 14.

RIL officials confirmed the receipt of the reply but did not give details. Asked about the issues raised by RIL in its letter sent late on April 27, REL officials said "We have already sent our reply late last night" and did not elaborate.

Raising a number of questions about REL's accounts, RIL had said "It came as a shock to us that even though the REL board had approved the audited accounts on April 14, we were informed on April 25 that discussions with auditors on accounts have not concluded. Hence, we regret our inability to the release of account for 2004-05".

Wondering if REL board had passed audited or unaudited accounts, RIL wanted to know whether the stock exchanges were duly informed by the energy company of such ongoing discussions with auditors even after passing of the accounts as audited (or unaudited?) and released to the media.

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