Reliance Power, Reliance Infra raids: Anil Ambani-owned companies say ‘action by ED concluded' — Full statement
The enforcement agency continued its search operations against the Reliance Group companies until Saturday, 26 July, in Mumbai, marking the third day of the raid. They reportedly recovered a number of documents and computer peripherals from multiple locations, according to a PTI report citing officials aware of the development.
'The action by ED has concluded at all locations. The company and all its officials have fully cooperated and will continue to cooperate with the authority,' the company informed the NSE through the filing.
In a similar official statement, both listed companies said that recent developments related to the matter have had no impact on their business operations and performance.
Both Reliance Power and Reliance Infrastructure said that they do not have any business or financial linkage to Reliance Communications (RCOM) and Reliance Home Finance Limited (RHFL). They also said that Reliance Power and Infra are both separate and independent listed entities.
The companies also disclosed that as of 27 July 2025, Anil Dhirubhai Ambani is not on the board of directors panel for both the listed companies, hence he does not have any governance, management or operational power.
The Enforcement Directorate started its search operations at more than 35 premises across Mumbai and Delhi on Thursday, 24 July 2025, as part of the agency's money laundering investigation under the Prevention of Money Laundering Act (PMLA) into the Reliance Group of Companies.
Multiple media reports suggested that ED-conducted raids on Thursday were in connection with an alleged ₹ 3,000-crore bank loan fraud involving Anil Ambani-owned Reliance Group of Companies and Yes Bank.
Shares of Reliance Power closed 4.99% lower at ₹ 56.72 after Friday's stock market close, compared to ₹ 59.70 at the previous market session. Reliance Infrastructure stock also closed 5% lower at ₹ 342.05, compared to ₹ 360.05 in the previous market session.
Reliance Power's full statement: The action by ED has concluded at all locations. The Company and all its officials have fully cooperated and will continue to cooperate with the authority.
Action by ED has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the Company.
The same appears to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.
Reliance Power is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.
RCOM is undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016 since over 6 years.
RHFL has been fully resolved pursuant to the judgment of the Hon'ble Supreme Court of India. Similar allegations as those set out in the media reports are sub-judice and pending before the Hon'ble Securities Appellate Tribunal, as per publicly available information.
Mr. Anil D. Ambani is not on the Board of Reliance Power. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of Reliance Power.
The Company continues to operate in the normal course and the said action has no impact on its business operations. The Company continues to focus on its business plans and remains committed to creating value for all stakeholders.
Reliance Infrastructure's full statement: The action by ED has concluded at all locations. The Company and all its officials have fully cooperated and will continue to cooperate with the authority.
Action by ED has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the Company.
The same appears to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.
Reliance Infrastructure is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL. RCOM is undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016 since over 6 years.
RHFL has been fully resolved pursuant to the judgment of the Hon'ble Supreme Court of India. Similar allegations as those set out in the media reports are sub-judice and pending before the Hon'ble Securities Appellate Tribunal, as per publicly available information.
Mr. Anil D. Ambani is not on the Board of Reliance Infrastructure. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of Reliance Infrastructure.
The Company continues to operate in the normal course and the said action has no impact on its business operations. The Company continues to focus on its business plans and remains committed to creating value for all stakeholders.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of the individual parties, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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