”If there is any specific violation or complaint, we can look into it… after this settlement, I don’t think there is any need for an inquiry,” Chidambaram told a news channel after the Reliance Industries Board meeting in Mumbai.
It has been so unfortunate in India that in recent disputes financial irregularities of the tune of a billion dollars in Reliance Industries came to limelight.
A few gifts were showered on the ruling Congress party (with whom they are already very close); including aircrafts for Sonia Gandhi private use and the Finance minister gave them a clear chit.
It is unfortunate that in India firstly there is not much transparency for the investors to keep track of the management decisions and finances. Then even if some of the skeletons emerge out of the closet, promoters pull some strings and everything is back to normal.