New Delhi: Reliance Power has issued a detailed clarification stating that the company continues to operate normally and that the majority of the ₹10,117-crore assets provisionally attached by the Enforcement Directorate (ED) do not belong to Reliance Power. Rather, most of the value pertains to Reliance Communications, a firm that exited the Reliance Group in 2019. The company submitted the statement to stock exchanges under Regulation 30.
According to the media release, ₹8,078 crore of the attached assets belong to Reliance Communications, which is currently undergoing a Corporate Insolvency Resolution Process and is fully administered by a Resolution Professional under NCLT and lenders led by SBI.
A further ₹339 crore, along with some non-core assets, relates to Reliance Infrastructure, while ₹582 crore pertains to independent companies with “no involvement whatsoever” with the Reliance Group.
The company added that its own real-estate assets in Ballard Estate—valued at ₹397.46 crore—are held on a long-term lease from the Bombay Port Trust. Reliance Power’s windmill assets worth ₹10.14 crore have also been provisionally attached.
Despite the action, Reliance Power asserted that it “continues to operate normally,” emphasising its commitment to growth and value creation for its 4.3 million shareholders. It said it will take “appropriate action” based on legal advice to protect shareholder interests.
The clarification also noted that Anil Ambani has not served on the company’s board for more than three and a half years, distancing the firm further from developments relating to other group entities.