Reliance Power Share Price in Focus After ED Seizes Assets Worth ₹2,033 Crore

The Enforcement Directorate has seized Indian assets worth ₹2,032.81 crore belonging to Reliance Power, part of the Reliance Anil Ambani Group. The action relates to an alleged diversion of funds to overseas entities in the British Virgin Islands (BVI) and Cayman Islands.  

The attached assets include bank balances held by Reliance Power and its shareholding in Sasan Power Ltd. The agency said the seizure followed an investigation into overseas investments, advances and accounting write-offs linked to the company. The matter also involves transactions dating back nearly two decades. 

How the Overseas Transactions Came Under Investigation 

According to the ED, Reliance Natural Resources Ltd, which later merged with Reliance Power, raised $300 million through foreign currency convertible bonds in 2006. Of this amount, $275 million was invested in its wholly owned Singapore subsidiary, Reliance Natural Resources (Singapore) Pte Ltd. 

The Singapore subsidiary placed the funds on deposit with Deutsche Bank in Geneva. These deposits were subsequently used as collateral for loans extended to companies incorporated in the British Virgin Islands. 

The ED alleges that the BVI entities were controlled and managed from India by the Reliance Anil Ambani Group through front persons acting on the group's instructions. The agency further claims that the loans were not repaid and that documents were prepared or backdated to make the transactions appear to be genuine business advances. 

Investigators also found that the funds were used for different purposes, including the temporary routing of money back into India through foreign entities based in Mauritius. The ED alleges that these transactions benefited the Reliance Anil Ambani Group. 

Reliance Power's Response 

Reliance Power said in a statement to the BSE and NSE that the ED's seizure order relates to foreign currency convertible bonds issued in 2006 and an overseas investment made in 2008 through its Singapore subsidiary. 

It also stated that the seizure primarily concerns shares held by Reliance Power in its wholly owned subsidiary, Sasan Power Ltd.  

The company's statement presents its position on the transactions, while the ED's allegations remain under investigation. The case centres on the movement of funds through overseas entities, the use of deposits as collateral and the documentation supporting the related transactions. 

Read More: Leela Palaces Share Price in Focus After Q2 FY27 Earnings Results; Q2 Profit Rises 27%! 

Reliance Power Share Price Performance 

As of October 15, 2026, Reliance Power share price closed at ₹18.71 per share, reflecting a 5.65% decline from the previous trading session. 

Conclusion 

The ED's seizure of assets worth ₹2,032.81 crore puts Reliance Power's historical overseas transactions under scrutiny. The agency alleges that funds were routed through foreign entities and that documents were used to present the transactions as legitimate business advances. 

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.