Reliance Infrastructure's shareholding in Reliance Power, valued at Rs 762.75 crore, has been provisionally attached by the Enforcement Directorate. The ED cited alleged violations of the Prevention of Money Laundering Act (PMLA) between 2017-2019. The company plans to take legal action.
Reliance Infrastructure Shareholding in Reliance Power Attached by ED
Reliance Infrastructure Ltd. announced that the Enforcement Directorate (ED) has issued a Provisional Attachment Order concerning its shareholding in Reliance Power Limited. The value of the attached shares is Rs. 762.75 crore. ## What just happened The Enforcement Directorate has provisionally attached Reliance Infrastructure's shares in Reliance Power. This action is based on alleged violations of the Prevention of Money Laundering Act (PMLA) for the period 2017-2019. ## Why this matters This regulatory action impacts a significant portion of Reliance Infrastructure's investment in Reliance Power. The attachment restricts the company's ability to deal with these shares, creating financial and operational uncertainty. Investors will be watching how the company navigates this legal challenge. ## The backstory This development stems from alleged PMLA violations by Reliance Infrastructure between 2017 and 2019. The ED's Provisional Attachment Order (No. 33/2026) targets the company's stake in Reliance Power. ## What changes now Reliance Infrastructure can no longer freely dispose of or deal with the attached shares of Reliance Power. The company has stated its intention to pursue all necessary legal avenues to protect its interests. ## Risks to watch The primary risk is the prolonged legal battle and the potential impact on Reliance Infrastructure's financial position and its ability to leverage these shares. ## Peer comparison (No direct peer comparison available from filing) ## Context metrics (time-bound) The alleged violations cited by the ED pertain to the period between 2017 and 2019. The financial implication is Rs. 762.75 crore.
