Reliance Power Clarifies No Impact From Bank of Baroda’s RCom Action

Reliance Power Limited (NSE: RPOWER) has issued a clarification regarding Bank of Baroda’s decision to classify the loan account of Reliance Communications Limited and Mr. Anil D. Ambani as fraud. The company confirmed that this action has no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.

Matters Relating To The Past

The company highlighted that the classification by Bank of Baroda pertains to issues dating back nearly a decade. Furthermore, Mr. Anil D. Ambani has not been part of Reliance Power’s Board for over 3.5 years, thereby having no direct connection to current management or decision-making.

Independent Operations Of Reliance Power

Reliance Power emphasised its independence from Reliance Communications, noting that it is a separate and publicly listed entity with no business or financial linkage. Reliance Communications, meanwhile, continues to be managed under a Committee of Creditors led by the State Bank of India (SBI) and overseen by a Resolution Professional. The matter remains under judicial review before the NCLT and the Hon’ble Supreme Court.

Also Read: Bank of Baroda Declares Anil Ambani's and Reliance Communications’ Loan Accounts as Fraud!

Conclusion

Reliance Power reassured stakeholders of its strong business focus and commitment to value creation. By distancing itself from unrelated legal and financial matters, the company underlined its independent operations and strategic growth path.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.