Latest news with #AnilAmbani-owned
Hans India
4 days ago
- Business
- Hans India
ED raids conclude at Reliance Power and Infra; companies clarify no business impact
Reliance Power and Reliance Infrastructure, two listed companies formerly led by Anil Ambani, on Sunday confirmed that the recent search operations conducted by the Enforcement Directorate (ED) have officially concluded. Both companies issued formal statements to the stock exchanges, stating that they fully cooperated with the ED and will continue to do so. The ED had carried out searches on July 24 across more than 35 locations in Mumbai and Delhi as part of its ongoing investigation under the Prevention of Money Laundering Act (PMLA). Reports suggest the probe is related to an alleged Rs 3,000 crore bank loan fraud involving the Anil Ambani-owned Reliance Group and Yes Bank. In their statements, Reliance Power and Reliance Infrastructure clarified that these ED actions have had no impact on their business operations, financial performance, or stakeholders. They also emphasised that both companies are independent and do not have any business or financial connections with Reliance Communications (RCOM) or Reliance Home Finance Limited (RHFL). The companies further stated that Anil Dhirubhai Ambani is not currently a board member of either Reliance Power or Reliance Infrastructure. 'As a result, he does not hold any governance or operational control in these entities,' the company said in its regulatory filing. Additionally, the companies highlighted that the matters under investigation appear to concern past transactions involving RCOM or RHFL, which date back over a decade. They noted that RCOM is undergoing insolvency proceedings, while RHFL has already been resolved following a Supreme Court ruling. Despite recent media reports and the ED's action, both Reliance Power and Reliance Infra assured investors and stakeholders that they continue to operate as usual and remain committed to delivering on their business plans. On the stock market, however, both companies saw a drop in their share prices on Friday, with Reliance Power closing nearly 5 per cent lower at Rs 56.72 and Reliance Infra falling 5 per cent to Rs 342.05.
Mint
4 days ago
- Business
- Mint
Reliance Power, Reliance Infra raids: Anil Ambani-owned companies say ‘action by ED concluded' — Full statement
Anil Ambani-owned listed firms Reliance Power and Reliance Infrastructure on Sunday informed the stock exchanges that the action by the Enforcement Directorate (ED) has now concluded. 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.
Mint
09-07-2025
- Business
- Mint
Relief for Anil Ambani-owned Reliance Power subsidiary company. Check details
Stock Market today: Anil Ambani-owned Reliance Power's subsidiary company has gotten relief on the proposed termination of its power purchase agreement. Check detail
Time of India
23-06-2025
- Business
- Time of India
Reliance Infra clears Rs 273 crore JR Toll Road loan with Yes Bank
Reliance Infrastructure Ltd on Monday announced that it has fully settled a loan of approximately Rs 273 crore, including interest, owed by its wholly owned subsidiary JR Toll Road Pvt Ltd (JRTR) to Yes Bank . In a regulatory filing, the company said JRTR, along with Reliance Infrastructure as the corporate guarantor, signed an addendum to the earlier settlement agreement with Yes Bank and has paid the entire outstanding amount. 'The above agreement has also resulted in full settlement/discharge of the Company's obligation as a guarantor for the said loan on behalf of JRTR,' the filing stated. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Vietnam: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo Yes Bank, was trading at Rs 19.78, up 0.25% on Monday morning at 9:47 am, according to BSE. Meanwhile, Anil Ambani-owned Reliance infra was trading at Rs 374, up 0.65%, at the same time. Live Events The loan repayment marks a key step in Reliance Infra's efforts to reduce its debt burden. The company also clarified that Yes Bank does not hold any equity in Reliance Infrastructure and is neither a related party nor part of the promoter group. The development follows earlier disclosures made by Reliance Infrastructure on November 26, 2024 and April 1, 2025, regarding the debt resolution process.
Mint
18-06-2025
- Business
- Mint
Anil Ambani-owned Reliance Infra share price hits 5% upper circuit as subsidiary partners with Dassault Aviation
Anil Ambani-owned Reliance Infra shares hit a 5 per cent upper circuit in intraday trade on the BSE on Wednesday, June 18, after the company announced its subsidiary had partnered with Dassault Aviation to manufacture Falcon 2000 jets in India. Reliance Infrastructure share price opened at ₹ 365.95 against its previous close of ₹ 367.70 and jumped 5 per cent to hit its upper circuit of ₹ 386.05. Through an exchange filing during market hours on June 18, the Anil Ambani-owned firm announced that its subsidiary Reliance Aerostructure Limited had entered a strategic partnership with Dassault Aviation to manufacture Falcon 2000 business executive jets in India for the global markets. "Dassault Aviation and Reliance Infrastructure's subsidiary, Reliance Aerostructure Limited (RAL), today at the Paris Air Show announced a landmark strategic partnership to manufacture Falcon 2000 business executive jets in India for the global markets. The partnership represents a significant step in advancing India's aerospace manufacturing capabilities," Reliance Infrastructure said in its exchange filing on June 18. According to Reliance Infra, Dassault Aviation will manufacture Falcon 2000 jets outside of France for the first time in its storied history. "This pioneering initiative will see India emerge as a strategic centre for high-end business jet manufacturing. It marks a historic moment for Indian aerospace and the manufacturing industry, as the landmark agreement paves the way for India's entry into the elite club of countries producing next-generation business jets, alongside the United StatesFrance, Canada, and Brazil," the company said. According to the exchange filing, Dassault Aviation will also transfer the assembly of the front section of Falcon 8X and Falcon 6X, in addition to the wings and complete fuselage assembly of Falcon 2000, to DRAL. The transfer of assembly operations combined with major facility upgrades will pave the way for the first flight of Falcon 2000 'Made in India' from Indian soil by 2028. Reliance Infrastructure share price has been on a roll over the last year, surging 83 per cent , despite market volatility. Year-to-date, the stock has gained 21 per cent, hitting a 52-week high of ₹ 421 recently on June 11. The stock hit a 52-week low of ₹ 169.75 on July 23 last year. Read all market-related news here Read more stories by Nishant Kumar
