Reliance Power, Reliance Infrastructure Shares Slip 5% on Reports of Ed Summons to Anil Ambani | Einsmark news

Reliance Power and Reliance Infrastructure Shares dropped to 5% on Friday in early trade, after reports that the Maintenance Directorate (ED) called the chairman of Reliance Group, Anil Ambani, on August 5. The Anil Ambani group dropped shares, Reliance Power price, to 4.82% to £ 50.30, while price infrastructure dropped to 5% to 5% to 5% to 5% to 5%. by piece on the BSE. According to a PTI report, Anil Ambani was asked to appear at the Ed Headquarters in New -Delhi in connection with an alleged loan fraud and money laundering involving his group businesses. The agency is expected to record its statement in accordance with the provisions of the Money Laundry Prevention Act (PMLA). The summons follows ED’s search operations that were linked to the Reliance group last week across various entities and managers. The raids, which began on July 24, continued for three days. The investigation is related to alleged financial irregularities, including a collective loan deduction of more than £ 10,000 by different group companies. ED sources indicated that a key focus of the investigation was the alleged distraction of approximately £ 3,000 crore in loans that were expanded by Yes Bank to the Reliance Group between 2017 and 2019, Pti reports. The two Anil Ambani group companies informed the stock exchanges and said while recognizing the action, the raids had “absolutely no impact” on their business, financial performance, shareholders, employees or any other stakeholders. “It seems the media reports concerning allegations of transactions of Reliance Communications Limited (RCom) or Reliance Home Finance Limited (RHFL) that are older than ten years old,” the companies said. At 09:20 o’clock, the price of Reliance Power traded 3.12% lower at £ 51.20 per piece, while the share price of Reliance Infrastructure fell 3.41% to £ 316.80 per piece on the BSE. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making any investment decisions.