Reliance Group says no impact on business operations due to attachment

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Anil Ambani's Reliance Group on Tuesday said there is no impact on business operations of the group's listed companies because of the ED's attachment of Rs 7,500 crore worth of properties, which is linked to a money-laundering probe.

The majority of the assets attached by the Enforcement Directorate belong to Reliance Communications, which is under the control of the Resolution Professional (RP) and the committee of creditors (CoC), led by State Bank of India, the group's listed firms said in stock exchange filings.

The federal probe agency issued four separate provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching 42 properties, including the 66-year-old Ambani's family home in Pali Hill, Mumbai, apart from other residential and commercial properties of his group companies.

The attachment relates to cases involving Reliance Communications and its affiliates over the alleged diversion of loans taken from YES Bank between 2017 and 2019.

"Reliance Infrastructure Limited and Reliance Power Limited wish to clarify that there is no material impact on the operations, performance, or future prospects of either company," the firms said in a stock exchange filing.

Both Reliance Infrastructure and Reliance Power, the filing said, continue to operate as usual, maintaining their focus on growth, operational excellence, and their commitment to all stakeholders, especially the over 50 lakh strong shareholder family.

"The largest value of assets attached belongs to Reliance Communications, which has not been a part of the Reliance Group since 2019 - i.e. for the last six years. The company has been undergoing the Corporate Insolvency Resolution Process (CIRP) for over six years. All matters relating to its resolution are currently sub judice before the National Company Law Tribunal (NCLT) and the Supreme Court of India," it said.

The firms said Anil D Ambani is in "no way involved with Reliance Communications, and has resigned six years ago in 2019".

"Anil D Ambani has also not served on the Board of Directors of either Reliance Infrastructure or Reliance Power for over three and a half years," it said.

"The repeated inclusion of Anil D Ambani in successive versions of all reports is unfortunately unwarranted and blatantly unfair."  The filing said Reliance Infrastructure is a zero-bank-debt company. The company has assets worth Rs 65,840 crore, a net worth of Rs 14,287 crore, as of March 31, 2025, and a strong retail shareholding family of over 7 lakh investors.

Reliance Power is a zero bank debt company and has assets worth Rs 41,282 crore, and a net worth of Rs 16,337 crore as of March 31, 2025.

"Both Reliance Infrastructure Limited and Reliance Power Limited have filed a formal complaint with Securities and Exchange Board of India (SEBI) on October 29, 2025, against a systematic campaign of price hammering and market manipulation by an illegal bear cartel and vested interests," it added.

Reliance Group's two flagship companies - Reliance Infrastructure Limited and Reliance Power Limited - are entirely debt-free, with no outstanding loans from any bank or financial institution.