- In 1982, Rs 22.5 crore worth of Reliance shares were supposedly bought by non- resident Indians said to be acting on the behalf of the Ambanis.
- In 1985, dummy corporations were said to have been formed by the Ambanis in the Panama Islands, the British Virgin Islands, the Isle of Man and the Channel Islands (all tax havens) to make investments worth Rs 70 crore.
- Reliance brought in equipment worth Rs 119 crore between 1982 and 1985 for its polyester fibre yarn (PFY) plant. Reliance allegedly brought in second-hand equipment as new.
- In 1987, a letter from Nusli Wadia to Fairfax enlisting its services was said to have been an Ambani forgery, allegedly perpetrated with the help of the then chief of the Central Bureau of Investigation.
The Current Allegations
- In 1987, a letter from Nusli Wadia to Fairfax enlisting its services was said to have been an Ambani forgery, allegedly perpetrated with the help of the then chief the Central Bureau of Investigation. The Current Allegations
- Reliance Industries share transfer agent, Reliance Consultancy Services ( R C S ), has switched share certificates lodged for transfer by UTI for 46.9 lakh shares, and Peerless, Canfina and GIC for as yet unspecified numbers. Reliance claims its intention was not malafide and that it did nothing illegal.
- Among the companies responsi- ble for switching shares being claimed by Fairgrowth Financial, many are closely linked with Ambani companies.
- The original 26,500 Reliance shares were sold by Rajul Vasa, Dhirubhai Ambanis physiotherapist, through R.D. Choksey to Opera Investments, an investment company partly owned by the Ambanis.
- Rajul Vasa used inside information to take advantage of the rise in share prices of Reliance Polypropylene and Reliance Polyethylene just before the companies were merged with Reliance Industries late last year.