Reliance Power Limited has announced the cessation of its wholly owned subsidiary, Reliance Chittagong Power Company Limited, Bangladesh, following the completion of voluntary winding up proceedings. The company disclosed this development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Subsidiary Financial Performance

The Bangladesh subsidiary's financial contribution to Reliance Power's consolidated operations remained minimal during the last financial year. According to the disclosure, the subsidiary generated no revenue during the financial year ended March 31, 2025.

Winding Up Process

The voluntary winding up of Reliance Chittagong Power Company Limited was completed on March 04, 2026. Reliance Power received formal intimation of this development on March 05, 2026, the same day the regulatory disclosure was filed with the stock exchanges.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that several standard disclosure requirements were not applicable in this case, including:

• Sale agreement details
• Consideration received
• Buyer information
• Related party transaction aspects

This development marks the formal closure of Reliance Power's operations in Bangladesh through this particular subsidiary entity, which had maintained a presence in the country's power sector.

The Supreme Court of India continues its examination of the petition requesting a Special Investigation Team (SIT) to investigate alleged financial misconduct by the Anil Ambani Group. Chief Justice Surya Kant has made significant observations during the proceedings, expressing concern over the magnitude of the alleged financial irregularities while maintaining a measured judicial approach.

Chief Justice's Key Observations

During the latest hearing, Chief Justice Surya Kant emphasized the court's cautious approach to the matter. The CJI stated the court does not want to pass any harsh order at this stage and prefers to review status reports on the investigation. However, the Chief Justice acknowledged the severity of the allegations, noting that such a huge amount has been siphoned and directing the Solicitor General to take note of this development and inform the relevant agencies.

Legal Framework and Allegations

The investigation request encompasses potential breaches under two critical financial laws involving ₹40,000 crore in alleged fund misappropriation. The Prevention of Money Laundering Act (PMLA) addresses money laundering offenses and provides for the confiscation of proceeds of crime. The Foreign Exchange Management Act (FEMA) governs foreign exchange transactions and violations related to cross-border financial activities.

Corporate Entities Under Scrutiny

Reliance Power and other entities within the Anil Ambani Group remain central to the allegations under judicial review. The petition seeks comprehensive investigation into the financial practices and transactions of these companies. The scope of the alleged irregularities spans across multiple business verticals within the conglomerate.

Judicial Strategy and Next Steps

The Supreme Court's measured approach reflects the complexity of the case and the need for thorough examination of evidence. The Chief Justice's directive to the Solicitor General indicates the court's expectation for coordinated action between judicial proceedings and investigative agencies. The emphasis on status reports suggests the court is seeking detailed information before making decisive rulings on the SIT formation request.