Business News | Reliance Power and Reliance Infrastructure Deny Any Impact Due to the Recent CBI Actions on RCFL, RHFL, and Anil Ambani

Mumbai (Maharashtra) [India], September 19 (ANI): Reliance Power Limited and Reliance Infrastructure Limited have said that there is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Relinace subsidiaries due to the recent action by Central Bureau of Investigation (CBI) on Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL) and Anil Ambani.

Both companies in exchange filing denied any impact on their business operations.

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"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 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," Reliance Power Limited said in its filing.

"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," the Reliance Power Limited .

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The company said that 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 Infrastructure Limited, in its filing, clarified on the media reports that "there is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure due to the recent action by CBI" on RCFL, RHFL and Anil Ambani.

The company added that Reliance Infrastructure 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 Infrastructure continue to focus on its business plans and remain committed to creating value for all stakeholders," the company said in the filing. (ANI)

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