Greater Noida(Banking And Finance Desk): The action by ED has concluded at all locations. The Company and all its officials have fully cooperated and will continue to cooperate with the authority. Action by ED has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the Company.
The same appears to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old.
Reliance Infrastructure is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.
RCOM is undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016 since over 6 years.
RHFL has been fully resolved pursuant to the judgment of the Hon’ble Supreme Court of India.
Similar allegations as those set out in the media reports are sub-judice and pending before the Hon’ble Securities Appellate Tribunal, as per publicly available information.
Mr. Anil D. Ambani is not on the Board of Reliance Infrastructure. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of Reliance Infrastructure.
The Company continues to operate in the normal course and the said action has no impact on its business operations. The Company continues to focus on its business plans and remains committed to creating value for all stakeholders.
