Reliance Power Limited (RPL) and its subsidiaries are under the spotlight as the Enforcement Directorate (ED) files a supplementary prosecution complaint in a case related to a Solar Energy Corporation of India (SECI) bank guarantee. This development comes amidst the company's efforts to maintain its financial stability and operational efficiency.

ED's Supplementary Prosecution Complaint

The Enforcement Directorate has filed a supplementary prosecution complaint against:

• Reliance Power Limited
• Reliance NUBESS Limited (subsidiary)
• Rosa Power Supply Company Limited (subsidiary)
• Manoj Bhaiyasaheb Pongde
• Other third parties

The complaint is related to a matter involving a SECI bank guarantee. This action by the ED adds a new dimension to the ongoing investigation into the company's financial dealings.

Company's Response and Legal Position

Reliance Power has taken a firm stance on the matter:

• The company asserts it acted in good faith and claims to be a victim of fraud perpetrated by third parties.
• A criminal complaint was lodged by Reliance NUBESS Limited with the Economic Offence Wing of Delhi Police on October 16, 2024.
• An FIR was registered on November 11, 2024, against the alleged third-party perpetrators.
• RPL maintains that the ED's allegations have not yet undergone judicial scrutiny.
• The company plans to present its case and facts before the court, as per the opportunity provided by law settled by the Supreme Court.

Financial Implications and Operational Status

Despite the ongoing legal challenges, Reliance Power has emphasized its commitment to normal operations and growth. The company's recent financial data provides some context to its current position:

The company's balance sheet shows a mixed picture, with a significant increase in shareholders' capital but decreases in total assets and current assets compared to the previous year.

Stakeholder Assurance

Reliance Power has reiterated its commitment to:

• Continued normal operations
• Focus on growth and operational excellence
• Creation of sustainable value for all stakeholders
• Serving its community of over 43 lakh shareholders

The company has stated it will take appropriate legal steps to safeguard its interests and those of its stakeholders while maintaining its innocence of any wrongdoing.

As this situation unfolds, stakeholders and market observers will be closely watching how Reliance Power navigates these legal challenges while striving to maintain its operational and financial health.

Anil Ambani, the chairman of Reliance Group, has recently provided clarification regarding the Enforcement Directorate's (ED) order concerning Reliance Communications assets. In a statement addressing the implications of the order, Ambani assured stakeholders that the ED's actions would not affect the operations of Reliance Infrastructure and other group companies.

Key Points of Clarification

• ED Order Scope: The order is specifically related to Reliance Communications assets.
• Impact on Other Companies: Ambani emphasized that Reliance Infrastructure and other group companies will not be impacted by this order.
• Business Continuity: Operations of the unaffected companies are expected to proceed as usual.

Context and Implications

This clarification comes at a crucial time for the Reliance Group, as it seeks to maintain investor confidence and market stability. The ED's order on Reliance Communications assets had raised questions about potential broader implications for the group's companies.

Ambani's statement aims to draw a clear line between the issues facing Reliance Communications and the operations of other entities within the Reliance Group. By doing so, he is attempting to isolate any negative sentiment to the specific company under scrutiny and prevent it from spreading to other parts of the conglomerate.

Market Response

The immediate market response to this clarification is not available in the current data.

Looking Ahead

As the situation develops, stakeholders will likely keep a close watch on:

1. Any further clarifications or details regarding the ED order
2. The performance of Reliance Infrastructure and other group companies
3. Any potential long-term implications for the Reliance Group's corporate structure or strategy

It's important to note that this statement from Anil Ambani represents the company's position, and investors and market analysts may continue to assess the situation independently as more information becomes available.

Recent Corporate Action by Reliance Power

According to the LODR data, Reliance Power has taken the following corporate action:

This corporate action, while routine, indicates that Reliance Power is proceeding with its regular governance processes, which may be seen as a sign of normal operations within the broader context of Anil Ambani's statement about the group companies.

As the situation unfolds, stakeholders will continue to monitor official communications from the Reliance Group and regulatory bodies for any updates or further clarifications regarding the ED order and its potential implications.