Reliance Power and Infrastructure Assert Business Stability Amid CBI Action
Reliance Power and Reliance Infrastructure assure stakeholders there is no negative impact from CBI actions on their subsidiaries, emphasizing distinct and stable operations unaffected by the investigations. The companies highlight resolved issues in concerned subsidiaries, RCFL and RHFL, with new management ensuring compliance and unaffected business stability.
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- India
Reliance Power Limited and Reliance Infrastructure Limited have firmly stated that the recent actions by the Central Bureau of Investigation (CBI) involving Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), and Anil Ambani have no impact on their business operations. In an exchange filing, both companies declared their operations remain unaffected.
According to a press release from the CBI, the transactions under scrutiny date back over a decade, concerning only RCFL and RHFL. These entities, now under new management as per Supreme Court judgments from 2022 and 2023, underwent lender-driven resolutions led by the Bank of Baroda to ensure compliance with RBI regulations, stated Reliance Power Limited.
The companies clarified that Reliance Power and Reliance Infrastructure are distinct and independent entities, unaffected by these developments. Both entities stress their commitment to stable governance and financial operations, reaffirming their dedication to focusing on business plans and delivering value to stakeholders.
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