Reliance Power Limited has issued a clarification in response to recent media reports concerning the Central Bureau of Investigation’s action against Reliance Communications Limited and Anil D. Ambani. The company stated that these developments have no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.
The clarification noted that the complaint filed by State Bank of India against Reliance Communications dates back more than a decade. At that time, Anil Ambani was serving only as a non-executive director of the company, without any role in its daily management. He had resigned from the Reliance Communications board in 2019, nearly six years ago. Since then, the telecom company has been managed under the supervision of a committee of creditors led by SBI and overseen by a resolution professional. The matter continues to remain sub judice before the NCLT, the Hon’ble Supreme Court, and other judicial forums.
Reliance Power underlined that it is an entirely separate and independent listed entity with no business or financial connection to Reliance Communications. The company also highlighted that Anil Ambani has not been associated with its board for over three and a half years, which means that any regulatory or investigative action concerning Reliance Communications has no bearing on the governance, management, or operations of Reliance Power.
The company reiterated its focus on executing business plans and strengthening its growth trajectory while remaining committed to creating long-term value for its stakeholders. Through this clarification, Reliance Power sought to address market concerns and make it clear that its operations and governance structure remain unaffected by the recent developments surrounding Reliance Communications.