Mumbai: Responding to some reports in a section of the media, a Reliance Industries Ltd (RIL) spokesperson categorically denied that the joint parliamentary committee (JPC) has pulled up RIL, and/or recorded any finding that withdrawal of funds by RIL created a massive liquidity crunch for brokers, which unleashed a payments crisis, leading to the crash.

The RIL spokesperson said such media reports are false and misleading, and have incorrectly attributed comments to the JPC, which the JPC has not made anywhere in its draft report.

Based on copies of the draft report forwarded to the company by the media, the unequivocal factual position is that the JPC draft report does not contain a single comment alleging any irregularity or violation on RILs part, much less laying any blame on RIL, or pulling up RIL in any manner, the spokesperson said.

The JPC has made certain comments on the Securities and Exchange Board of Indias role in this matter, but RIL is not concerned with the same, the spokesperson added.

RIL reiterates that all its automatic lending/borrowing mechanism transactions have been conducted in full compliance of all applicable laws, rules and regulations, and the JPC has not made any adverse comment in this regard.