“No Imapct On Business” : Anil Ambani’s Reliance Power, Reliance Infra React After Stocks Tumble 7% and 5%

Anil Ambani’s Reliance Group on Tuesday said there is no impact on business operations of the group’s listed companies because of the ED’s attachment of Rs 7,500 crore worth of properties, which is linked to a money-laundering probe. The development comes after Reliance Power and Reliance Infra stocks crashed 7% and 5% respectively. The majority of the assets attached by the Enforcement Directorate belong to Reliance Communications, which is under the control of the Resolution Professional (RP) and the committee of creditors (CoC), led by State Bank of India, the group’s listed firms said in stock exchange filings.

Shares of Reliance Power Ltd extended losses for the second consecutive session on Tuesday, sliding 7.88 per cent to Rs 40.44 on BSE. The stock has now dropped 12.88 per cent over two trading days In an exchange filing, Reliance Power stated that certain company assets had been attached but maintained that the action would have no impact on its business operations, shareholders, employees or other stakeholders. The company also clarified that Anil D Ambani has not served on its Board for more than three and a half years.

The ED said it has attached assets worth Rs 4,462 crore, including 32 acres of land at the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai. The move is part of an ongoing probe into alleged bank fraud involving Reliance Communications Ltd (RCOM), Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL).

With the latest order, the total value of assets linked to Anil Ambani-associated companies attached by the ED has crossed Rs 7,500 crore. The agency issued five provisional attachment orders -- four on October 31 and one on November 4 -- covering 42 properties across cities, including Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Hyderabad, Chennai and East Godavari (Andhra Pradesh).These properties include Ambani's Pali Hill residence, Reliance Centre in Delhi, and several holdings of group entities such as Adhar Property Consultancy Pvt Ltd, Vihaan43 Realty Pvt Ltd and Campion Properties Ltd.Reliance Infrastructure emphasised that the attachment will not disrupt its projects or daily business. The company said it continues to operate smoothly and remains focused on strengthening its business and maintaining stakeholder confidence.The group’s statement comes amid growing investor curiosity about the ED’s move, reassuring shareholders that the company’s financial health and ongoing operations remain unaffected.