Reliance Infrastructure and Reliance Power have clarified that the Central Bureau of Investigation’s (CBI) recent chargesheets against Reliance Commercial Finance (RCFL), Reliance Home Finance (RHFL), and group chairman Anil Ambani will not affect their operations or stakeholders.
In separate filings to the Bombay Stock Exchange (BSE), both companies asserted:
“There is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure [and Reliance Power] due to the recent action by CBI on RCFL, RHFL, and Anil Ambani.”
The companies highlighted that the transactions under scrutiny are over a decade old. They further noted that RCFL and RHFL have already undergone full resolution with a change in management, following Supreme Court judgments in 2022 and 2023, through lender-driven processes led by Bank of Baroda under RBI regulations.
On Thursday, the CBI filed chargesheets alleging fraudulent transactions between RCFL, RHFL, Yes Bank, and entities linked to the family of former Yes Bank chief Rana Kapoor. According to the chargesheet, these transactions caused a loss of ₹2,796 crore to Yes Bank. The CBI also stated that Yes Bank had invested nearly ₹5,000 crore in debt securities of RCFL and RHFL in 2017, despite red flags from rating agencies. In exchange, Ambani group companies allegedly extended credit facilities at concessional rates to loss-making entities owned by Rana Kapoor’s family.
Reliance Infrastructure clarified that Anil Ambani has never served on the boards of RCFL or RHFL. Moreover, he has not been part of Reliance Infrastructure’s board for over three and a half years. The company stressed that it is an independent listed entity with no connection to the transactions cited in the chargesheet.