4:45 pm: Jaipal Reddy was opposing the price rise of gas from $4.25 per unit to $14.25 per unit. And Reddy was also seeking to penalise Reliance for not supplying the promised eight crore units (they supplied only two crore units). The PM was intervening on Reliance's behalf, Prashant Bhushan accuses, and when everything failed, Reddy was shunted out and Veerapa Moily brought in.
Both the BJP and the Congress government colluded with Reliance to help them. Both are equally guilty, Bhushan and Kejriwal say.
4:40 pm: Commotion at the press conference as a man gets up to ask Kejriwal why he and his wife were not transferred from Delhi for two years.
After things settle down, Kejriwal says it is because I have taken on the high and mighty that I am being targetted with silly questions like these.
4:29 pm: The tentacles of crony capitalism has spread so far and wide that crony capitalists like Mukesh Ambani are making decisions that benefit only them and not the country. These crony capitalists decide not only what decisions the government will take, but who will be in the government, he says.
Bhushan reiterates that Jaipal Reddy was shifted from the Oil Ministry and Veerapa Moily brought in only at Reliance's behest.
4:25 pm: The corporates are running the country and the Congress government is completely in their grips, Kejriwal says.
4:19 pm: India is not run by Manmohan Singh, it seems like it is run by Mukesh Ambani, Kejriwal says.
He adds Mukesh Ambani was right when he called the Congress "hamara dukaan".
"Even the PM (Manmohan Singh) has been very sympathetic to Reliance. And as a result, Reliance has gained more than Rs 1 lakh crore that we as a nation lost," Kejriwal says.
He says, "Jaipal Reddy was replaced with Veerappa Moily to increase gas prices" and help Reliance.
4:15 pm: Reliance was supposed to supply eight crore units by 2010, but they deliberately slowed down production and supplied only two crore units. This was an attempt at hoarding gas till they got a more favourable price for it.
Now Reliance is seeking $14.25 per unit. They have been piling the pressure on the government from 2010. If the government agrees to this, the price of each unit of power could go up to Rs 7 per unit.
4:12 pm: Pranab Mukherjee helped Reliance make a windfall profit of Rs 8000 crore with one favourable decision, Kejriwal says.
"Reliance was to supply gas at $4.25 per unit for 17 years. But within two years, they sought a revision of this rate," he said.
This despite the National Thermal Power Corporation having signed an agreement in 2004 with Reliance Industries to procure gas at the rate $2.25 per unit.
Reliance though insisted in 2007 at $4.25/unit instead. Instead of taking Reliance to court, Kejriwal says that this request of Reliance was subsequently approved by a GoM headed by Pranab Mukherjee.
4:05 pm: Kejriwal targets Reliance and is now detailing how the various governments helped Reliance. The National Democratic Alliance gave the KG Basin reserves to Reliance, who decided their own gas price. The government decided to remain in the background. "Why was Reliance favoured? They surely must have filled some ministers pocket," Kejriwal says.
"Reliance had promised to deliver cheap gas for 17 years, but never delivered," he adds.
4:00 pm: Kejriwal has begun his press conference. He says that he will expose what the real reason behind inflation is. We are a resources rich country, but the nexus between politicians and industrialists is the real reason behind this.
They are going to play the Radia tapes. Prashant Bhushan says the audio will be of conversations between Niira Radia and Ranjan Bhattacharya (ex-PM Atal Bihari Vajpayee's son-in-law).
Prashant Bhusan at the end of the tape says that you must have heard Bhattacharya quoting Mukesh as saying Congress toh hamari dukaan hai (our shop).
3:54 pm: So what's common to Arvind Kejriwal and Osama bin Laden?
According to a South Block official, it's the fact that both have turned against the people who first supported them.
If Bin Laden became a bugbear to the US, which initially supported the Afghan Jihad against the Soviet Union, Kejriwal enjoyed the support of saffron parties for his attacks on the United Progressive Alliance government and its officials.
Now that his investigations have revealed questionable business dealings by Bharatiya Janata President President Nitin Gadkari, Kejriwal has clearly discomfited the main Opposition party. The expectation now is that the winter session will function smoothly because both sides are at the receiving end of Kejriwal's attacks.
3:50 pm: We are alll set for Arvind Kejriwal expose number 3.
First came Robert Vadra and then came Nitin Gadkari. Now, it seems that all it needs is for Kejriwal to name someone and the media will do the rest as happened with Gadkari.
So what bombshell revelation will he drop this time. Or will it be an anti-climax? Let's wait and see.