New Delhi: Reliance Infrastructure on Thursday clarified to stock exchanges that a recent Enforcement Directorate (ED) action cited in media reports pertains to an ongoing investigation involving Reliance Communications and not the company itself.
In a filing to the BSE and NSE, the Anil Ambani group firm said it became aware of the development through media coverage and an ED press release dated February 25. According to the release, the Provisional Attachment Order has been issued in connection with an investigation under the Prevention of Money Laundering Act (PMLA), 2002 involving Reliance Communications.
“The aforesaid enforcement action does not pertain to the Company and accordingly, no disclosure is warranted under applicable regulations,” Reliance Infrastructure said in its clarification.
The exchanges had sought confirmation following media reports and unusual movement in the company’s stock price.
Reliance Infrastructure further stated that it cannot comment on stock price movements in the market.
The clarification comes amid heightened scrutiny around group entities after the ED’s latest action under the anti-money laundering law. Market participants said the company’s response was aimed at addressing investor concerns and distinguishing its operations from those under investigation.
Shares of Reliance Infrastructure have witnessed volatility in recent sessions following developments related to group companies.
The company reiterated that there is no regulatory or enforcement action against it in the matter referenced in the news reports.