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HC seeks details of probe against RIL

The Delhi high court on Wednesday took strong exception to Enforcement Directorate not taking any action in "ante-dating" the letters of credit by the Reliance Industries for import of purified terepthalic acid, and sought a status report on the investigation.

"This is an offence of serious nature. This is a worse type of offence committed by a concern," a division Bench comprising Chief Justice Arijit Passayat and Justice D K Jain said while seeking explanation from the ED as to why a matter relating to the ante-dating case, was closed.

Directing Additional Solicitor General K K Sud to file a fresh affidavit specifying the latest position about the probe, the court allowed ED time till August 13 to file the fresh status report.

The ED in its report submitted before the court on Wednesday said the special director at Bombay vide letter of April 4, 2001, had returned a proposal regarding the case of the Standard Chartered Bank with the suggestion that "no useful purpose will be served by issuance" of show cause notices in the case.

After perusing the report, the Bench wondered why should such a conclusion be drawn by the ED.

ED said the probe into the matter started in April 1996 on the basis of a CBI inquiry report, which said that Reliance Industries Ltd had opened ante-dated LCs for import of PTA during the last week of May 1985 with Banque Indo Suez, Standard Chartered Bank, Canara Bank, State Bank of India, Canara Bank and Societe General Bank.

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