By Samannay Biswas
Copyright timesnownews
Reliance Infrastructure Ltd on Friday clarified that the Central Bureau of Investigation’s (CBI) chargesheets against Reliance Commercial Finance Ltd (RCFL), Reliance Home Finance Ltd (RHFL), and group chairman Anil Ambani will not impact its operations. “There is no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure due to the recent action by CBI on RCFL, RHFL and Anil Ambani,” the company said in a BSE filing. The CBI on Thursday filed chargesheets alleging fraudulent transactions between RCFL, RHFL, Yes Bank, and firms linked to the family of former Yes Bank chief Rana Kapoor. According to the agency, the deals caused a loss of Rs 2,796 crore to the lender. Yes Bank had reportedly invested about Rs 5,000 crore in RCFL and RHFL debt securities in 2017 despite rating agency concerns. In return, the Ambani group allegedly extended credit facilities at concessional rates to Kapoor family entities. Reliance Infra, however, said the transactions cited were “over 10 years old” and stressed that both RCFL and RHFL were fully resolved with new management in place under Supreme Court-approved, lender-led processes in 2022 and 2023. The company also pointed out that Anil Ambani has never been on the boards of RCFL or RHFL and stepped down from Reliance Infrastructure’s board more than three-and-a-half years ago. “Reliance Infrastructure is a separate and independent listed entity and these actions have no bearing on the company’s day-to-day management, governance or financial stability,” the filing added. Shares of Reliance Infrastructure closed at Rs 259.25 on the BSE, down 2.8% on Friday.
