Whalesbook
Supreme Court mein RCOM dwara ₹27,300 Cr se zyada ki fund diversion ke mamle mein CBI aur ED ki jaanch chal rahi hai. Anil Ambani ke lawyers keh rahe hain ki shayad unke saath 'cheating' hui hai. CBI ne bataya ki unki jaanch mein do log pakde gaye hain aur aur bhi ho sakte hain. Ab ED ne BSES Rajdhani Power Limited (BRPL) aur BSES Yamuna Power Limited (BYPL) ke shares jo ₹1,575 Cr ke hain, unhe provisional taur par zapt kar liya hai. Ye dono companies Delhi ki zabardast electricity suppliers hain, jo laakho logon ko light deti hain. Ambani ke team ka kehna hai ki ye companies sirf group se judi hone ki wajah se target ho rahi hain, aur ye seize karne se unka operating fund kam ho jayega, jisse bijli delivery par asar pad sakta hai.
Ajeeb baat ye hai ki is sab legal tension ke bawajood, BRPL aur BYPL operationaly kaafi strong hain. BRPL ne FY25 mein ₹14,300 Cr ka revenue dikhaya hai, aur unka AT&C loss sirf 6.12% hai. BYPL ka FY25 revenue ₹7,750 Cr raha, aur AT&C loss 6.02% hai. Unke paas regulatory assets bhi kaafi hain – BRPL ke paas FYE25 tak ₹18,030 Cr aur BYPL ke paas March 2025 tak ₹11,738 Cr hain. Reliance Infrastructure Ltd. (RInfra), jiske paas dono BSES entities mein 51% stake hai, wo bhi is group investigation mein involve hai. RInfra ka stock bhi 0.48 ke low P/E ratio par trade kar raha hai.
Ye BSES assets ka freeze Anil Ambani group ke overall financial problems ka hissa hai. ED ne ab tak group entities se total ₹10,117 Cr se zyada ki assets zapt ki hain. RCOM khud ₹40,185 Cr se zyada ke loan fraud ke allegations face kar rahi hai, aur kai banks ne iske accounts ko fraud declare kiya hai. Kai reports ke mutabik, group ne 2006 se ₹41,921 Cr se zyada ka financial fraud kiya hai. Anil Ambani ne khud 2020 mein UK court mein personal bankruptcy declare ki thi. Group ne 2019 aur 2025 ke beech ₹73,250 Cr se zyada ke assets beche bhi hain. Agar RInfra ka BSES entities mein stake final ho gaya, toh unka cash flow seriously affect ho sakta hai, unke operational performance ke bawajud. CARE Ratings ne bhi BRPL aur BYPL ko is ED action ke wajah se 'negative rating watch' par rakha hai.
Abhi sab kuch ED ki jaanch aur group ke legal approach par depend karta hai. Supreme Court ne RCOM probe ko 'sensationalise' na karne ko kaha hai, par essential services ko financial aur operational risk badhta ja raha hai. Investor confidence kam hai, aur is scrutiny se naye investment aane mushkil hain. Jab tak ye legal issues solve nahi hote aur frozen assets release nahi hote, tab tak BSES ki financial stability par sawaal rahega.