Reliance Power Limited (RPower) has issued a clarification regarding recent media reports about enforcement agency actions, emphasizing that these actions have no bearing on the company's operations or stakeholders. The power generation company, which operates independently from other Reliance Group entities, sought to distance itself from allegations involving Reliance Communications Limited (RCOM) and Reliance Home Finance Limited (RHFL).

Key Points of Clarification

• No Business or Financial Linkage: RPower stressed that it is a separate and independent listed entity with no business or financial connections to RCOM or RHFL.
• Historical Context: The allegations mentioned in media reports appear to concern transactions over a decade old, involving RCOM and RHFL, not RPower.
• Current Status of Related Entities: RCOM has been undergoing Corporate Insolvency Resolution Process for over 6 years, while RHFL has been fully resolved as per a Supreme Court judgment.
• Leadership Clarification: The company pointed out that Anil D. Ambani is not on Reliance Power's Board of Directors.

Business Focus and Operations

Reliance Power reaffirmed its commitment to its business plans and value creation for stakeholders. The company operates a substantial power generation portfolio:

The flagship project, Sasan Power Limited plant, is described as the world's largest integrated coal-based power plant.

Corporate Governance and Legal Matters

The company addressed the ongoing legal proceedings, noting that similar allegations to those in the media reports are currently sub-judice and pending before the Securities Appellate Tribunal.

Investor Relations

In its communication to the stock exchanges, RPower emphasized transparency and proactive disclosure. The company filed this clarification under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to keeping investors and the market informed.

As the power sector continues to be a critical component of India's infrastructure growth, Reliance Power's clarification aims to reassure stakeholders of its operational independence and ongoing focus on its core business activities in the power generation sector.

Reliance Power Limited (RPower) has issued a clarification regarding recent media reports about enforcement agency actions, emphasizing that these actions have no bearing on its operations or stakeholders. The company, which operates independently from other Reliance Group entities, sought to distance itself from allegations involving Reliance Communications Limited (RCOM) and Reliance Home Finance Limited (RHFL).

Key Points of Clarification

• No Business Impact: RPower stressed that the enforcement actions have absolutely no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.

• Separate Entity: The company emphasized its status as a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.

• Historical Context: The allegations mentioned in media reports appear to concern transactions over 10 years old, involving RCOM and RHFL, not RPower.

• Legal Status of Other Entities: RCOM has been undergoing Corporate Insolvency Resolution Process for over 6 years, while RHFL has been fully resolved pursuant to a Supreme Court judgment.

• Management Clarification: RPower pointed out that Anil D. Ambani is not on its Board of Directors.

Company Focus and Operations

Despite the media attention, Reliance Power reaffirmed its commitment to its business plans and value creation for stakeholders. The company highlighted its operational portfolio:

• Total operating capacity of 5,305 megawatts
• Includes the 3,960 megawatt Sasan Power Limited plant, described as the world's largest integrated coal-based power plant
• Sasan Power has consistently ranked as the best operating power plant in India for the past seven years

Corporate Governance

RPower's clarification, issued under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, underscores the company's commitment to transparency and corporate governance. The statement aims to reassure investors and stakeholders about the company's stability and independence from other Reliance Group entities facing regulatory scrutiny.

As the power sector continues to be a critical component of India's infrastructure growth, Reliance Power's focus remains on its operational excellence and future expansion plans, separate from the challenges faced by other companies sharing the Reliance brand name.