Following several media reports about the action taken by the enforcement agency, Reliance Power Limited has recently released an explanation. The company has assured its shareholders, employees and all other stakeholders that these measures will not have any effect on the company’s commercial operations, financial performance or any other aspect.
Reliance Power said in an official information given to the stock exchange that the company is focusing on its commercial plans and is fully committed to price creation for all stakeholders.
What did Reliance Power say in his statement?
The company has clarified its stance on many issues, so that any kind of confusion can be removed.
No relationship with RCom/RHFL!
The company clarified that the allegations mentioned in media reports seem to be to more than 10 years old transactions of Reliance Communications Limited (RCom) or Reliance Home Finance Limited (RHFL). Reliance Power insisted that it is a “separate and independent listed company” which has no commercial or financial relations with RCom or RHFL.
Anil Ambani is not in Reliance Power’s board
It has also been clarified in the statement that Anil Ambani is not in the board of Reliance Power. Therefore, any action against RCom or RHFL will not have any effect or impact on the rule, management or operation of Reliance Power.
Current Status of RCom and RHFL:
The company also stated that RCom has been undergoing corporate insolvency solution process under the insolvency and purification Code (IBC), 2016 for the last 6 years. Whereas according to the Supreme Court’s decision, the RHFL case has been completely resolved.
Only focus on commercial development …
This statement is an important assurance for investors and stakeholders, who may be concerned with recent media reports. The company has clarified that its operation is completely normal and it will continue to move forward on its development path.
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