Announcement under Regulation 30(LODR)- Change in Management
RELINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Reliance Infrastructure Limited reported FY 2025-26 consolidated total income of ₹20,862 crore with net profit of ₹2,900 crore (EPS ₹71.44). The Board approved a new CEO (Shri Vijesh Babu Thota, previously CFO) and new CFO (Shri Asheesh Chaturvedi, previously Finance Controller), both effective May 23, 2026. New statutory auditors M/s Paresh Rakesh & Associates LLP were appointed to fill a casual vacancy after M/s Chaturvedi & Shah LLP stepped down. The company also sought shareholder authorization to raise up to ₹3,000 crore via QIP or follow-on public offer. Auditors issued a Disclaimer of Opinion citing ongoing ED/SEBI/SFIO investigations regarding suspected fraud through CLE Private Limited, uncertainty over ₹4,705.74 crore of economic rights, and going concern risks at multiple subsidiaries including Mumbai Metro One Private Limited.
The disclaimer of opinion from auditors and regulatory investigations signal significant governance and legal risks. The internal CFO-to-CEO transition may raise questions about succession depth. Fund-raising authorization could provide much-needed capital but diluted existing shareholders.