Anil Ambani Reliance Share: Anil Ambani’s Reliance Group companies are in bad shape today. Shares of both Reliance Power and Reliance Infrastructure are under pressure today.
At 9:47 am, Reliance Power shares were trading 0.48 per cent lower at Rs 39.13 per share and Reliance Infrastructure shares were trading 0.53 per cent lower at Rs 168 per share on BSE. The reason behind the fall in Reliance shares is the action of ED (Enforcement Directorate). In fact, on Thursday, ED took major action against Anil Ambani’s Reliance Group and attached assets worth Rs 1452 crore in the money laundering case.
Reliance gave clarification on ED’s action
ED said on Thursday that it has attached assets worth Rs 1,400 crore related to Reliance Communications (RCOM). However, Reliance Group has clearly stated that it has nothing to do with the assets related to RCom as it is not a part of Reliance Group since 2019. There is panic among investors due to ED action, whose impact is visible on the shares.
Reliance Group clearly said on Thursday that the group and its managing director Anil Ambani are not associated with Reliance Communications in any way. Ambani had resigned from RCom six years ago in 2019. Apart from this, he has not been on the board of directors of Reliance Infrastructure and Reliance Power for more than three and a half years.
company going through bankruptcy
RCOM is undergoing the Corporate Insolvency Resolution Process (CIRP) under the supervision of the National Company Law Tribunal (NCLT) and the Supreme Court and is being managed by a resolution professional appointed by the lenders led by State Bank of India. A Reliance Group spokesperson stressed that Anil Ambani has nothing to do with RCOM since his resignation in 2019, hence the attachment order will not affect Reliance Infrastructure or Reliance Power, both the companies are functioning normally.
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Another big action by ED on Anil Ambani’s Reliance Group, assets worth Rs 1400 crore seized
