Reliance Power Limited has informed the Exchange about Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
RPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Reliance Power informed the exchanges that its promoter, Reliance Infrastructure Limited, has disclosed that certain of its assets have been provisionally attached by the Enforcement Directorate (ED) for alleged violations under the Prevention of Money Laundering Act (PMLA). Reliance Power clarified that none of its own assets have been attached. Reliance Infrastructure also stated there is no impact on its business operations, shareholders, employees, or other stakeholders, and noted that Mr. Anil D. Ambani has not been on its board for over 3.5 years. The disclosure is filed under SEBI Listing Regulations, likely to pre-empt market speculation linked to the promoter group.
Short-term sentiment may be negative due to ED action against the promoter, even though Reliance Power's own assets are unaffected. Investors should watch for further developments, as regulatory trouble at the promoter level can indirectly affect confidence in group companies.