Reliance Infrastructure’s statutory auditors, Chaturvedi & Shah LLP, have resigned, citing a Cobrapost report and related investigations as reasons. The company disputes the reasons, calling them incorrect and untenable. The auditors will complete the audit for the financial year ending March 31, 2026. The company is taking legal steps and claims no fraud issues were raised during the auditor’s tenure.
Auditor Resignation
Chaturvedi & Shah LLP, the statutory auditors of Reliance Infrastructure, have expressed their intention to resign, effective after completing the statutory audit for the financial year ending March 31, 2026 (FY2025-26). This intention was formally communicated via a letter dated January 23, 2026.
Reasons Cited
The auditors cited concerns stemming from a Cobrapost report, as well as a Show Cause Notice (SCN) issued by SEBI, alleging irregularities, misutilization of funds, concealment of relationships with CLE Private Limited, and initiation of investigations. They also raised allegations of suspected fraud and fraudulent transactions. The auditors initially appointed on August 8, 2025, also referred to the submission of Form ADT-4 with the Central Government, dated January 19, 2026.
Company’s Response
Reliance Infrastructure has stated that it does not agree with the reasons cited by the auditors. The company considers the filing of form ADT-4 as incorrect, invalid, and not legally sound. Reliance Infrastructure asserts that the auditor has never raised fraud concerns during its tenure. The company has initiated action to seek legal counsel.
Cobrapost Allegations
Reliance Group strongly condemns Cobrapost’s proposed malicious campaign to tarnish its reputation and mislead stakeholders. The company believes this campaign is aimed at crashing the stock prices, and engineering panic in stock markets to acquire Reliance Group assets at throwaway prices.
Historical Context
A detailed media release issued by the Company on October 29, 2025, also enclosed in the report, described the Cobrapost allegations as a deliberate campaign of calumny, disinformation, and character assassination against Reliance Group, Anil D. Ambani, and 55 lakh shareholders.
Source: BSE
