Reliance on Tuesday, Feb 9 denied the report published in a British newspaper.
"There is no truth to the report. We deny it completely," Reliance spokeswoman Sudeep Purkayastha said.
The Times of London reported earlier that Mukesh Ambani, chairman of Reliance Industries and Subroto Roy, chairman of Sahara Group are bidding for a 51 per cent stake in the English football club.
However, there is no denial from Subrata Roy's Sahara Group.
"We are presently not in a position to comment," Sahara spokesman Abhijit Sarkar is quoted as saying in latest reports.
Liverpool, which is one of England's most successful football clubs, is presently owned by George Gillett and Tom Hicks.
The American duo acquired the club in 2007.
Informing of the disagreements between Gillett and Hicks, The Times reported that Liverpool club emerged as a takeover target for Ambani, the seventh-richest man in the world, as pressure mounted on Hicks and Gillett to seal a deal and sell the club.