Reliance Power Says No Assets Attached in ED Probe Against Promoter Firm

Reliance Power Ltd. on Monday said the Enforcement Directorate has provisionally attached certain assets of its promoter Reliance Infrastructure Ltd. for alleged violations under the Prevention of Money Laundering Act. The company clarified that none of its own assets have been attached.

Reliance Power also said Anil D. Ambani has not been on the board of Reliance Infrastructure for over three and a half years.
Earlier in the day, the Enforcement Directorate said it had attached 42 properties worth ₹30.83 billion linked to Ambani, alleging that his group companies; Reliance Communications Ltd., Reliance Infrastructure Ltd., and Reliance Power Ltd.; were involved in fraudulent diversion of public funds.

In October, the agency had booked Reliance Power’s then Chief Financial Officer, Ashok Kumar Pal, while the company had lodged a complaint with the Delhi Police’s Economic Offences Wing over a fake endorsement of a bank guarantee issued by a foreign bank.