Reliance Infra & Power Clarify Position on CBI Case Involving Anil Ambani

New Delhi, India: Reliance Infrastructure and Reliance Power on Friday issued clarifications distancing themselves from the CBI’s chargesheets against Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), and group chairman Anil Ambani. Both companies stressed that the case has no impact on their business operations, governance, or financial stability.

Background on the Case

On Thursday, the CBI filed chargesheets alleging fraudulent transactions between RCFL, RHFL, Yes Bank, and companies linked to the family of former Yes Bank chief Rana Kapoor.

The agency claimed these transactions caused a loss of ₹2,796 crore to Yes Bank.

According to the allegations, Yes Bank invested ₹5,000 crore in debt securities of RCFL and RHFL in 2017 despite rating concerns. In return, the Ambani group allegedly extended concessional credit facilities to loss-making entities of Kapoor’s family.

Companies’ Clarification

Reliance Infra and Reliance Power stated in BSE filings that:

The CBI-cited transactions are over 10 years old.

Both RCFL and RHFL have since undergone management changes through lender-driven processes under RBI regulations, backed by Supreme Court rulings in 2022 and 2023.

Anil Ambani has never been on the boards of RCFL or RHFL, and he stepped down from the boards of Reliance Infra and Reliance Power more than three and a half years ago.

The two companies remain separate and independent listed entities.

Why It Matters

The clarifications aim to reassure shareholders, employees, and investors that the CBI action will not affect the companies’ day-to-day operations or financial performance.