Reliance Power shares jump 8% post clarification on 'fake bank guarantee' case
In an exchange filing, the company said, "Reliance Power wishes to clarify that Amar Nath Dutta is in no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees or any other stakeholders."
- Nov 10, 2025,
- Updated Nov 10, 2025 11:05 AM IST
Shares of Reliance Power Ltd (RPower) surged 7.80 per cent in Monday's trade after the company issued a clarification regarding media reports linking it to a case involving a fake bank guarantee.
In an exchange filing, the company said, "Reliance Power wishes to clarify that Amar Nath Dutta is in no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees or any other stakeholders."
The clarification followed reports about the arrest of Amar Nath Dutta by the Enforcement Directorate (ED) in connection with a fake bank guarantee case. RPower further stated, "It is reiterated that the Company, its subsidiary Reliance NU BESS Ltd, and the employees acted bonafidely and are victims of fraud, forgery and cheating conspiracy."
The company also addressed media references to its promoter, noting, "It is further clarified that the media has incorrectly drawn a reference of Anil D. Ambani in this matter, whereas he is not on the Board of Reliance Power Limited for the past more than 3.5 years."
Separately, the ED has announced the provisional attachment of assets allegedly linked to the Anil Ambani Group under the Prevention of Money Laundering Act (PMLA). According to the central probe agency, assets worth Rs 4,462 crore have been attached, including 32 acres of land at the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai.
The attachments are part of an ongoing investigation into alleged bank fraud involving Reliance Communications Ltd (RCom), Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL). With this order, the total assets linked to Anil Ambani-associated entities attached by the ED have now crossed Rs 7,500 crore.
The ED said it issued five provisional attachment orders — four on October 31 and one on November 4 — covering 42 properties across Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Hyderabad, Chennai and East Godavari in Andhra Pradesh.
As of September 2025, promoters held a 24.98 per cent stake in RPower.
Shares of Reliance Power Ltd (RPower) surged 7.80 per cent in Monday's trade after the company issued a clarification regarding media reports linking it to a case involving a fake bank guarantee.
In an exchange filing, the company said, "Reliance Power wishes to clarify that Amar Nath Dutta is in no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees or any other stakeholders."
The clarification followed reports about the arrest of Amar Nath Dutta by the Enforcement Directorate (ED) in connection with a fake bank guarantee case. RPower further stated, "It is reiterated that the Company, its subsidiary Reliance NU BESS Ltd, and the employees acted bonafidely and are victims of fraud, forgery and cheating conspiracy."
The company also addressed media references to its promoter, noting, "It is further clarified that the media has incorrectly drawn a reference of Anil D. Ambani in this matter, whereas he is not on the Board of Reliance Power Limited for the past more than 3.5 years."
Separately, the ED has announced the provisional attachment of assets allegedly linked to the Anil Ambani Group under the Prevention of Money Laundering Act (PMLA). According to the central probe agency, assets worth Rs 4,462 crore have been attached, including 32 acres of land at the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai.
The attachments are part of an ongoing investigation into alleged bank fraud involving Reliance Communications Ltd (RCom), Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL). With this order, the total assets linked to Anil Ambani-associated entities attached by the ED have now crossed Rs 7,500 crore.
The ED said it issued five provisional attachment orders — four on October 31 and one on November 4 — covering 42 properties across Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Hyderabad, Chennai and East Godavari in Andhra Pradesh.
As of September 2025, promoters held a 24.98 per cent stake in RPower.