Reliance Power Limited and Subsidiary Named in PMLA Complaint; Receives Pre-Cognizance Notice from CBI
Reliance Power Limited and its subsidiary, Reliance CleanGen Limited, have been named as proposed accused in a complaint filed by the Enforcement Directorate regarding alleged violations of the Prevention of Money Laundering Act (PMLA). The complaint involves an alleged amount of approximately Rs. 715 crore related to Reliance Home Finance Limited and others.The company received a Pre-Cognizance notice under Section 223 of the Bharatiya Nagarik Suraksha Sanhita, 2023, from the Special Judge, CBI in New Delhi concerning the matter.
In response to the developments, Reliance Power Limited stated that it will take all appropriate steps to safeguard its interests as may be legally advised. The expected financial implication of the proceedings is not ascertainable at this time.
RPOWER Stock Price Movement
On Monday, shares of Reliance Power Limited slipped by 1.04% to settle at ₹22.72, shedding ₹0.24 from the previous close. The stock saw heavy trading activity, with approximately 22.5 million shares exchanging hands during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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