New Delhi: Ramandeep Kaur, the Company Secretary of Reliance Power Limited, on Saturday, October 11, 2025, wrote to BSE Limited, Mumbai, with the Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) read with Para A of Part A of Schedule III of the Listing Regulations and the SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
The letter reads, “We refer to our disclosure dated November 7, 2024 and November 14, 2024 whereby we have informed that the Company had lodged a criminal complaint in the matter of alleged fake endorsement of bank guarantee against EMD (issued by foreign bank), which was arranged by third party, with Economic Offence Wing of Delhi Police against the third party on October 16, 2024, basis on which First Information Report (FIR) has been registered on November 11, 2024.
As also informed, the Company and its subsidiaries acted bonafidely and are a victim of fraud, forgery and cheating conspiracy.
In this matter, Shri Ashok Kumar Pal, Executive Director and Chief Financial Officer(CFO) of the Company has been arrested by ED in the night of October 10, 2025 under Section 19 of PMLA, 2002. He was produced before the Court today morning and ED has been granted two days’ custody. Pending the ongoing matter and in order to assist the investigation, Shri Ashok Kumar Pal has demitted the office of Executive Director and CFO with immediate effect. The formal letter will follow and the requisite disclosure will be made.
We also wish to clarify on the media reports that Mr. Anil D. Ambani is not on the Board of Reliance Power Limited for more than 3.5 years and is not concerned with this matter in any manner.
The Company will take all appropriate steps in the matter, as legally advised.
