For the second day in succession, came out in stout defence of share allocation and regretted that despite "unambiguous clarification, attempts to spread confusion continue unabated."
A day after asserting that former communication minister and BJP Leader Pramod Mahajan had nothing to do with its distribution of shares, RIC said that "as a part of the anti-Reliance Infocomm campaign, allotment of shares to Ashish Deora has also been presented in a totally distorted fashion."
Ever since Anil, involved in a bitter wrangle with elder brother Mukesh, raised the issue of change of equity pattern in Infocomm in December, there have been a flood of reports on the share allocation of RIC.
Some reports even suggested that RIC equity was given to private entities controlled by the elder Ambani and others at Rs 1 a share against a price of up to Rs 250 a share given to promoter company Reliance Industries.
RIC said that it along with its holding company Reliance Communication Infrastructure Ltd had made it clear earlier also that "there was no discrimination in the share allotment by these two companies and there were no differential prices to the detriment of RIL shareholders."
Reliance Infocomm said, "Deora is closely related to Kantibhai Gowani, a reputed builder in Mumbai who has been a close business associate of the Reliance group for over two decades."
Given his prior expertise and experience in obtaining in-building permission and associated right-of-way permissions, Deora's services were retained by RIC as part of their fibre-optic/broadband project in Greater Mumbai, the statement said.
The Reliance 'ownership issue'
RIC agreed to compensate Deora by way of a nominal compensation per building upfront and the remaining via appreciation on equity shares of RIC to be sold to him or his nominees by the Trust, it said.
"The Trust retained the option to purchase back the shares at par. Deora was not permitted to sell/pledge/deal with the shares. Pursuant to this understanding, the Trust sold equity shares to three nominee companies controlled by Deora," it added.
However, Deora was not able to fulfil his commitments. As a result, the shares were returned to the Trust. "The three companies of Deora do not hold any shares of RIC. This should set at rest all attempts to distort the issue of allocation of shares to Deora or his companies," Reliance Infocomm said.
On the disinformation campaign that shares were allotted to certain companies and individuals at Rs 1 per share while RIL had to pay many times more, the company said, "This is totally false, as no shares to RIL have been issued at a premium till date."
According to Reliance Infocomm, all RCIL and RIC shares are in accordance with the shareholding pattern.
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