Reliance Infra receives Pre-Cognizance notice in ED PMLA case worth about Rs 3,000 crore

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-2.4% vs market

Power peers, median of 37sector · industry level-0.4%-1.6% vs sector

On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 1.6 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 received a Pre-Cognizance notice from the Special Judge, CBI, New Delhi, in a money laundering case filed by the Enforcement Directorate. The company is named as a proposed accused under sections 3 and 4 of the PMLA, alleging involvement of about Rs 3,000 crore in the matter of Reliance Home Finance and others. The exact financial impact is not ascertainable at this stage, and the company says it will take all appropriate legal steps to safeguard its interests.

Likely market impact

A criminal notice alleging a large money laundering amount could weigh on the stock and worry investors. Outcome and financial impact are still uncertain.