Reliance Infrastructure clarifies that the company continues normal operations despite provisional asset attachments. The majority of attached assets, valued at ₹8,078 crore, pertain to Reliance Communications, which is no longer part of the Reliance Group since 2019. Only ₹339 crore of assets directly relate to Reliance Infrastructure, with another ₹582 crore involving independent companies. The company is committed to protecting shareholder interests.
Company Operations Unaffected
Reliance Infrastructure has released a statement clarifying the impact of recent reports regarding the provisional attachment of assets. The company emphasizes that it continues to operate normally, focusing on growth and delivering sustainable value to its stakeholders. The company is actively taking legal advice to protect the interests of its shareholders.
Details of Attached Assets
The announcement addresses concerns arising from the provisional attachment of assets worth ₹10,117 crore. However, the core message is that the majority of these assets (₹8,078 crore) belong to Reliance Communications Limited, which has not been part of Reliance Group since 2019. Reliance Communications is currently undergoing Corporate Insolvency Resolution Process (CIRP). The remaining attachments include ₹339 crore linked to Reliance Infrastructure, as well as approximately ₹330 crore in other non-core assets. Another ₹582 crore involves independent companies with no Reliance Group affiliation.
Commitment to Stakeholders
Reliance Infrastructure reiterates its commitment to continued growth and operational excellence for its over 7 lakh shareholders. The company is taking necessary steps, guided by legal counsel, to protect its stakeholders’ interests amid the asset attachment proceedings.
Source: BSE