Remove heavy outer husks from corn; pull back (but do not remove) inner husks. Remove and discard silks; rinse corn, and dry with paper towels. Set aside.
Melt 1/4 cup butter in a small saucepan over low heat. Stir in 1 teaspoon basil and next 3 ingredients, stirring until blended.
Brush corn evenly with butter mixture. Pull husks back over corn.
Grill corn, covered with grill lid, over high heat (400° to 500°) 25 minutes, making quarter turns every 6 to 7 minutes. Pull back husks before serving.
Note: For testing purposes only, we used Pickapeppa Sauce for sweet pepper sauce.