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Reliance Infrastructure Limited ( (IN:RELINFRA) ) has issued an update.
Reliance Infrastructure Limited has disclosed that the Enforcement Directorate has provisionally attached its shareholdings in subsidiaries BSES Yamuna Power, BSES Rajdhani Power and Mumbai Metro One Private Limited, valuing the attachment at about Rs 1,575 crore, as part of a broader money-laundering and bank fraud investigation involving various Reliance Anil Ambani Group entities. The ED’s action forms part of cumulative group-wide attachments of roughly Rs 12,000 crore linked to alleged fraudulent diversion of public funds via complex structures involving Reliance group finance companies and Yes Bank exposures, raising fresh uncertainty over Reliance Infrastructure’s key regulated assets and adding to legal and financial risks for the company and its stakeholders, even as the company says it will pursue appropriate legal remedies to protect shareholder interests.
More about Reliance Infrastructure Limited
Reliance Infrastructure Limited is an Indian infrastructure and utilities company, part of the Reliance Anil Ambani Group, with key interests in power distribution and urban transport. Its major operational assets include stakes in Delhi’s BSES Yamuna Power and BSES Rajdhani Power, as well as Mumbai Metro One Private Limited, reflecting a strategic focus on electricity distribution and metro rail infrastructure in major urban markets.
Average Trading Volume: 313,305
Technical Sentiment Signal: Sell
Current Market Cap: 57.72B INR
See more data about RELINFRA stock on TipRanks’ Stock Analysis page.