Shares of Anil Ambani’s Reliance Power and Reliance Infra continued its decline a day after the ED attached fresh assets as part of an alleged money laundering probe against Reliance Group Chairman and his companies. At 10:20 AM, Reliance Communications was trading 2.36 per cent lower at ₹1.24 on the BSE, while the BSE Sensex was down 0.36 per cent at 85,321.18.The news also weighed on other Anil Ambani-led group stocks. Reliance Infrastructure declined 3.49 per cent, and Reliance Power slipped 0.92 per cent.
The company in their statement said attached assets belong to Reliance Communications, which has not been a part of the Reliance Group since 2019.“Anil Ambani has also not served on the Board of Directors of either Reliance Infrastructure or Reliance Power for over three and a half years.” Enforcement Directorate yesterday attached fresh assets worth more than Rs 1,400 Anil Ambani and his companies, bringing the total value of assets attached in this case to about Rs 9,000 crore. The spokesperson said that the Reliance Communications company has been undergoing the Corporate Insolvency Resolution Process for over six years, and it is presently managed by a Resolution Professional under the supervision of the NCLT / Committee of Creditors (CoC), led by the State Bank of India (SBI) and a consortium of banks/lenders.
“The attachment order has no material impact on the operations, performance, or future prospects of Reliance Infrastructure and Reliance Power. Both the companies continue to operate as usual, maintaining their focus on growth, operational excellence, and their commitment to all stakeholders” the spokesperson said. Ambani has once been questioned by the ED in this case in August, even as the agency has summoned him afresh in a foreign exchange violation case.Both Reliance Power and Reliance Infra shares have fallen on a year-to-date (YTD) basis. Data show that Reliance Power has slipped 12% on the NSE, while Reliance Infrastructure shares have declined nearly 47% during the period.