The two cases, registered in November 1985, involve the alleged backdating of Letters of Credit (LoC) of the State Bank of India and the Standard Chartered Bank, to enable RIL to import 80000 mts of purified terepthalic acid (PTA) in open general licence (OGL), while the government had decided to amend the policy to bring the item in the limited permissible list.

Dhirubhai Ambani, chairman and managing director of the Reliance empire is also an accused in the case, along with several bank officers. Ambani has also filed a discharge application.

Though the case was filed in 1985, the chargesheets were filed only in 1996. Since then the case has been adjourned at least on 19 occasions. On the last date of hearing, CBI counsel had submitted an application for taking up the hearing of the case expeditiously.