The Exchange has sought clarification from Reliance Infrastructure Limited with respect to recent news item captioned ED attaches Anil Ambani s ₹3,716 cr Pali Hill property Abode in bank fraud probe. The response from the Company is awaited.
RELINFRA · price
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NSE has asked Reliance Infrastructure to respond to a news report stating that the Enforcement Directorate (ED) has attached a Mumbai property worth ₹3,716 crore belonging to Anil Ambani as part of a bank fraud investigation. The property, located at Pali Hill and known as 'Abode', has reportedly been attached under the Prevention of Money Laundering Act (PMLA). The company has not yet submitted its clarification to the exchange, and the response is awaited. This development adds to existing legal and financial troubles surrounding the Reliance Anil Dhirubhai Ambani Group.
Negative near-term sentiment expected for Reliance Infrastructure stock, as the news heightens governance and legal-risk concerns tied to the promoter group. Investors should wait for the company's official clarification before drawing conclusions, but the probe could affect investor confidence and group-level fundraising ability.