Reliance Power, RInfra say CBI chargesheet on Anil Ambani-led firms has no business impact

Reliance Power and Reliance Infrastructure said on Friday that the Central Bureau of Investigation’s (CBI) chargesheet against Anil Ambani and others in a ₹2,796 crore bank fraud case has no impact on their operations or financial performance.

The CBI on Thursday filed a chargesheet alleging fraudulent transactions between Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), Yes Bank and firms linked to the family of former Yes Bank CEO Rana Kapoor.

Both Reliance Power and Reliance Infrastructure said in separate exchange filings that issues related to RCFL and RHFL were fully resolved through independent lender-driven processes led by Bank of Baroda, under RBI regulations, following Supreme Court judgments in 2022 and 2023.

The companies said Anil Ambani has never been on the boards of RCFL or RHFL and stepped down from the boards of Reliance Power and Reliance Infrastructure over 3.5 years ago. They added that they remain separate listed entities and the CBI’s action has no bearing on their management, governance or financial stability.

Also Read: CBI files chargesheets on fraudulent dealings between Anil Ambani-led firms and Yes Bank