Reliance Power has issued a clarification to stock exchanges after media reports suggested that the Enforcement Directorate (ED) conducted raids at locations linked to the company.
In an official statement, the company said that no search operations have been carried out at any of its offices or premises.
The clarification comes after earlier reports indicated that the ED had launched search operations at multiple locations linked to companies associated with Anil Ambani.
Company clarification
In its exchange filing, Reliance Power stated:
“This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Limited. In this regard, the Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company.”
The company added that the clarification was being issued for information and dissemination purposes.
Earlier reports of ED searches
Earlier in the day, reports had suggested that Enforcement Directorate teams conducted searches at around 10–12 locations connected to individuals and companies linked to the Anil Ambani-led business group.
According to inputs from ANI, approximately 15 ED teams were involved in the search operations, which were reportedly conducted early in the morning. Officials said the action was linked to entities associated with Reliance Power and other companies connected to Anil Ambani.
Impact on stock movement
Following the reports, Reliance Power shares saw volatility in early trade on March 6. The stock opened at Rs 22.41 and moved to an intraday high of Rs 23.24 before trimming gains and trading around Rs 22.69, slightly above the previous close of Rs 22.55.
The reported searches were said to be part of ongoing investigations related to alleged financial irregularities. Earlier reports had indicated that Anil Ambani had appeared before the Enforcement Directorate in connection with a money laundering probe linked to an alleged Rs 40,000 crore case, according to media reports.
Reliance Power, part of the Anil Ambani-led Reliance Group, operates power generation assets and continues to remain under investor watch amid regulatory and legal developments involving the group.