Reliance Infra named proposed accused in ED PMLA case worth Rs 179.66 crore

Enforcement RaidRegulatory & Legal View source PDF Explain this filing

RELINFRA · price

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Price reactionminutes from the announcement price · days from the prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.6% vs market

Power peers, median of 36sector · industry level+0.2%-2.2% vs sector

On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 2.2 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Reliance Infrastructure has been named as a proposed accused in a Prosecution Complaint filed by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002 for an alleged amount of about Rs. 179.66 crore. The company received the complaint and supporting documents from the Special Judge (PMLA), New Delhi, ahead of a pre-cognisance hearing. Financial impact is not ascertainable at this stage. The company says it will take all legally advised steps to safeguard its interest.

Likely market impact

Regulatory overhang under PMLA creates uncertainty. Negative sentiment likely. Stay cautious until clarity emerges.