No Impact on Reliance Power Ltd due to the recent CBI Actions on Reliance Commercial Finance and Reliance Home Finance

Reliance Power Limited wish to clarify on the Media Reports that there is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Power due to the recent action by Central Bureau of Investigation (CBI) on Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL) and Shri Anil Ambani.

As per the Press Release of CBI, the matter concerns RCFL and RHFL and the alleged transactions are over 10 years old. Both RCFL and RHFL have been fully resolved with a change in management pursuant to the judgment of the Hon'ble Supreme Court of India in 2022 and 2023 respectively, through separate independent lender-driven processes led by Bank of Baroda under an Inter-creditor arrangements in terms of as per RBI regulations.

Mr. Anil D. Ambani from the inception of both the companies, RCFL and RHFL, has never been on the Boards of either of the Companies as per public records. Also, he is not on the Board of Reliance Power Limited for more than 3.5 years.

Reliance Power is a separate and independent listed entity and these actions have no bearing on the Company's day-to-day management, governance or financial stability.

Reliance Power continue to focus on its business plans and remain committed to creating value for all stakeholders.

Shares of Reliance Power Limited was last trading in BSE at Rs. 47.99 as compared to the previous close of Rs. 47.47. The total number of shares traded during the day was 2926952 in over 12924 trades.

The stock hit an intraday high of Rs. 48.28 and intraday low of 46.59. The net turnover during the day was Rs. 139056201.00.

Source : Equity Bulls

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ReliancePower INE614G01033 RPOWER NoImpact CBIAction RCFL RHFL AnilAmbani