Reliance Power says operations unaffected after ED attachment reports

Reliance Power Limited has issued a clarification after reports of asset attachment by the Enforcement Directorate. The company said its operations remain unaffected and noted that most of the attached assets, valued at about Rs 101.17 billion, belong to entities that are no longer part of the group.

The latest ED action is linked to the probe into the Reliance Home Finance Limited, Reliance Commercial Finance Limited, and Yes Bank fraud case. The agency has attached 18 properties, fixed deposits, bank balances, and shareholdings worth about Rs 11.2 billion belonging to the Reliance Anil Dhirubhai Ambani Group. This raises the cumulative value of attached assets across the wider case to nearly Rs 101.17 billion.

According to the ED, the attached properties include assets of Reliance Infrastructure Limited, Reliance Power Limited, Reliance Value Service Private Limited, and several fixed deposits and unquoted investments. The agency alleges diversion of public funds by multiple group companies, including Reliance Communications Limited, Reliance Home Finance Limited, Reliance Commercial Finance Limited, Reliance Infrastructure Limited, and Reliance Power Limited.

In its filing dated December 5, 2025, Reliance Power Limited detailed the asset split. It said about Rs 80.78 billion relates to Reliance Communications Limited, which exited the Reliance Group in 2019 and is under a corporate insolvency resolution process. Another Rs 3.39 billion and some non-core assets correspond to Reliance Infrastructure Limited. A further Rs 5.82 billion relates to independent companies with no link to the Reliance Group.

For its own portfolio, Reliance Power Limited said its Ballard Estate real estate assets, valued at about Rs 3.97 billion, are held on a long-term lease from the Bombay Port Trust. The only Reliance Power Limited assets provisionally attached are windmill assets valued at about Rs 0.10 billion.

The broader case is based on a CBI FIR. The ED alleges that between 2017 and 2019, Yes Bank’s investments of Rs 29.65 billion in Reliance Home Finance Limited and Rs 20.45 billion in Reliance Commercial Finance Limited later turned non-performing. It claims that more than Rs 110 billion in public funds moved to the finance companies. The agency also alleges that public money from Reliance Nippon Mutual Fund was indirectly routed through Yes Bank to Anil Ambani group finance companies in violation of SEBI rules.

In the Reliance Communications Limited case, the ED alleges that out of Rs 401.85 billion in outstanding loans, about Rs 136 billion was financed through evergreening, about Rs 126 billion was diverted to related parties, and more than Rs 18 billion went into fixed deposits and mutual funds before being liquidated and redirected.

Reliance Power Limited said it continues normal operations and aims to protect shareholder interests. The company added that Anil D Ambani has not been on its board for more than three and a half years. Reliance Power Limited operates 5,305 MW of capacity, including the 3,960 MW Sasan plant.