A Dutch judge has released three former employees of a local firm suspected of laundering $1.2 billion through over-invoicing services and works rendered for a gas pipeline built by a unit controlled by Mukesh Ambani, a charge vehemently denied by Reliance Industries. The trio were arrested by Dutch investigators and released on Friday after three days.
East West Pipeline Ltd (EWPL), which was previously known as Reliance Gas Transportation Infrastructure Ltd (RGTIL), denied any money was laundered at any stage during implementation and that the higher capital cost of a pipeline would result in a higher tariff for users for receiving natural gas through the line.
