Reliance Infrast.
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Purported blueprints of parts of the plant's facilities, supplier details exposed in leak
Nearly 19,000 files relating to the plant are online, researcher says
Plant contractor Reliance Group confirms 'partial breach', says incident reported to the government
Updates July 15 story with Nuclear Power Corporation statement in paragraph 13
By Munsif Vengattil and Aditya Kalra
BENGALURU, July 15 (Reuters) - Ransomware group World Leaks has posted on the dark web a huge cache of files related to India's largest nuclear plant, including purported blueprints of parts of its facilities and supplier details — information it labelled as coming from Reliance Group.
The Kudankulam Nuclear Power Plant, located in the southern state of Tamil Nadu, is the largest of India's seven nuclear plants and central to Prime Minister Narendra Modi's ambitious plans to expand the country's atomic energy capacity.
Indian businessman Anil Ambani's Reliance Group, one of the plant's contractors, told Reuters in a statement that there had been a "partial breach" of its data on a server hosted by third-party Indian data centre service provider Yotta, and that the government has been informed about the incident.
Reliance did not disclose what data had been breached.
The data breach could pose a "serious" risk to the safety of the plant, says Nickolas Roth, a senior director at the Nuclear Threat Initiative, which advises governments and benchmarks countries' preparedness on nuclear security. The breach also underscores how hacks have become more common in India, where many companies are ill-equipped to deal with such threats.
Nearly 19,000 files totalling 14.3 gigabytes that appear for the search term "KKNP" - an acronym for the nuclear plant - in the data have been online since June 11, according to independent cybersecurity researcher Rakesh Krishnan, who first alerted Reuters to the leak.
Reuters reviewed the documents, which were dated from 2016 to mid-2025, but could not verify their authenticity. In addition to some blueprints and supplier details, they purportedly show meeting and inspection records, equipment reviews and insurance policies.
The 19,000 files appeared to be the most sensitive of a total 858,000 Reliance files on the World Leaks website.
One of the conglomerate's subsidiaries, Reliance Infrastructure RLIN.NS, won a contract in 2018 to design and build infrastructure for the plant's Unit 3 and Unit 4. Both units, still under construction, are due to be operational by 2027 and are slated to provide a combined 2,000 megawatts of capacity.
World Leaks, a well-known ransomware group that has previously targeted Nike NKE.N and India's Tata Group, did not respond to Reuters queries on the Reliance data breach. The group typically posts stolen corporate data on its website after companies decline to pay the ransom demanded. Its website can only be accessed with a specialised browser.
In June, World Leaks told Reuters it had sought $1.5 million in ransom for Tata Group files that contained confidential component designs of clients Apple AAPL.O and Tesla TSLA.O, adding that it posted the data after Tata "ignored" its demand.
SUSPICIOUS ACTIVITY ON SERVER IN MAY
The Nuclear Power Corporation of India, which commissions and operates the country's nuclear power plants, has been communicating with Reliance about the breach and India's main cybersecurity agency — the Indian Computer Emergency Response Team (CERT-In) — is looking into the incident, according to a source familiar with the matter. The source declined to be identified due to the sensitivity of the issue.
The Nuclear Power Corporation said in a statement after publication of this article that the information said to be available in the public domain pertains only to common service facilities and does not relate to any nuclear safety or nuclear security-related systems.
CERT-In and Modi's office did not respond to Reuters queries. India's Department of Atomic Energy declined to comment.
Yotta said in a statement it had noted suspicious activity on May 29 on a server it hosts that belongs to Reliance Infrastructure. It said the activity was immediately terminated and that the suspected ransomware execution was prevented, but Reliance Infrastructure informed it at the end of June that there had been claims of a data breach made by "external threat actors."
Yotta said it has not been able to verify the claims of the "threat actor", but added that it has shared its detailed technical investigation with Reliance Infrastructure and supports an ongoing investigation.
BLUEPRINTS AND INSURANCE POLICIES
The documents posted on World Leaks do not appear to relate to the nuclear reactors' core systems, which are supplied by Russia's state-owned Rosatom.
They did contain purported blueprints for the ventilation and cooling systems used in Unit 3 and Unit 4, as well as what appeared to be the complete floor layout of a "common control room".
The files also included what appeared to be vendor proposals, a list of approved suppliers, and a record of a 2024 meeting about a joint inspection by the Nuclear Power Corporation and Reliance, with photos of equipment.
Another document purports to show that Reliance Infrastructure and the Nuclear Power Corporation had taken out an insurance policy that would entitle them to $112 million if either Unit 3 or Unit 4 were to suffer an act of terrorism.
The files, in the hands of bad actors, could in theory be exploited to map the plant's support systems, identify its suppliers and pinpoint weaknesses in its security chain, according to researchers.
They could "show an adversary not just who has access to the project but which systems that access reaches," said Nuclear Threat Initiative's Roth.
India ranks third among a list of countries suffering the most data breaches, with 28.9 million accounts compromised last year, lagging only the United States and France, according to cybersecurity company Surfshark.
A report last year by the Data Security Council of India and cybersecurity firm Seqrite said that of 204 organisations surveyed across India, some 73% were "unaware if they have ever been attacked" while 57% lack cyber hygiene practices.
It is also the second time that the Kudankulam plant has been linked to a cyber incident, with malware tied to a North Korean hacker group found on the plant's administrative network in 2019. At the time, the Nuclear Power Corporation said the matter was investigated immediately and plant systems were not affected.
(Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Edwina Gibbs)
(([email protected];))
Purported blueprints of parts of the plant's facilities, supplier details exposed in leak
Nearly 19,000 files relating to the plant are online, researcher says
Plant contractor Reliance Group confirms 'partial breach', says incident reported to the government
Updates July 15 story with Nuclear Power Corporation statement in paragraph 13
By Munsif Vengattil and Aditya Kalra
BENGALURU, July 15 (Reuters) - Ransomware group World Leaks has posted on the dark web a huge cache of files related to India's largest nuclear plant, including purported blueprints of parts of its facilities and supplier details — information it labelled as coming from Reliance Group.
The Kudankulam Nuclear Power Plant, located in the southern state of Tamil Nadu, is the largest of India's seven nuclear plants and central to Prime Minister Narendra Modi's ambitious plans to expand the country's atomic energy capacity.
Indian businessman Anil Ambani's Reliance Group, one of the plant's contractors, told Reuters in a statement that there had been a "partial breach" of its data on a server hosted by third-party Indian data centre service provider Yotta, and that the government has been informed about the incident.
Reliance did not disclose what data had been breached.
The data breach could pose a "serious" risk to the safety of the plant, says Nickolas Roth, a senior director at the Nuclear Threat Initiative, which advises governments and benchmarks countries' preparedness on nuclear security. The breach also underscores how hacks have become more common in India, where many companies are ill-equipped to deal with such threats.
Nearly 19,000 files totalling 14.3 gigabytes that appear for the search term "KKNP" - an acronym for the nuclear plant - in the data have been online since June 11, according to independent cybersecurity researcher Rakesh Krishnan, who first alerted Reuters to the leak.
Reuters reviewed the documents, which were dated from 2016 to mid-2025, but could not verify their authenticity. In addition to some blueprints and supplier details, they purportedly show meeting and inspection records, equipment reviews and insurance policies.
The 19,000 files appeared to be the most sensitive of a total 858,000 Reliance files on the World Leaks website.
One of the conglomerate's subsidiaries, Reliance Infrastructure RLIN.NS, won a contract in 2018 to design and build infrastructure for the plant's Unit 3 and Unit 4. Both units, still under construction, are due to be operational by 2027 and are slated to provide a combined 2,000 megawatts of capacity.
World Leaks, a well-known ransomware group that has previously targeted Nike NKE.N and India's Tata Group, did not respond to Reuters queries on the Reliance data breach. The group typically posts stolen corporate data on its website after companies decline to pay the ransom demanded. Its website can only be accessed with a specialised browser.
In June, World Leaks told Reuters it had sought $1.5 million in ransom for Tata Group files that contained confidential component designs of clients Apple AAPL.O and Tesla TSLA.O, adding that it posted the data after Tata "ignored" its demand.
SUSPICIOUS ACTIVITY ON SERVER IN MAY
The Nuclear Power Corporation of India, which commissions and operates the country's nuclear power plants, has been communicating with Reliance about the breach and India's main cybersecurity agency — the Indian Computer Emergency Response Team (CERT-In) — is looking into the incident, according to a source familiar with the matter. The source declined to be identified due to the sensitivity of the issue.
The Nuclear Power Corporation said in a statement after publication of this article that the information said to be available in the public domain pertains only to common service facilities and does not relate to any nuclear safety or nuclear security-related systems.
CERT-In and Modi's office did not respond to Reuters queries. India's Department of Atomic Energy declined to comment.
Yotta said in a statement it had noted suspicious activity on May 29 on a server it hosts that belongs to Reliance Infrastructure. It said the activity was immediately terminated and that the suspected ransomware execution was prevented, but Reliance Infrastructure informed it at the end of June that there had been claims of a data breach made by "external threat actors."
Yotta said it has not been able to verify the claims of the "threat actor", but added that it has shared its detailed technical investigation with Reliance Infrastructure and supports an ongoing investigation.
BLUEPRINTS AND INSURANCE POLICIES
The documents posted on World Leaks do not appear to relate to the nuclear reactors' core systems, which are supplied by Russia's state-owned Rosatom.
They did contain purported blueprints for the ventilation and cooling systems used in Unit 3 and Unit 4, as well as what appeared to be the complete floor layout of a "common control room".
The files also included what appeared to be vendor proposals, a list of approved suppliers, and a record of a 2024 meeting about a joint inspection by the Nuclear Power Corporation and Reliance, with photos of equipment.
Another document purports to show that Reliance Infrastructure and the Nuclear Power Corporation had taken out an insurance policy that would entitle them to $112 million if either Unit 3 or Unit 4 were to suffer an act of terrorism.
The files, in the hands of bad actors, could in theory be exploited to map the plant's support systems, identify its suppliers and pinpoint weaknesses in its security chain, according to researchers.
They could "show an adversary not just who has access to the project but which systems that access reaches," said Nuclear Threat Initiative's Roth.
India ranks third among a list of countries suffering the most data breaches, with 28.9 million accounts compromised last year, lagging only the United States and France, according to cybersecurity company Surfshark.
A report last year by the Data Security Council of India and cybersecurity firm Seqrite said that of 204 organisations surveyed across India, some 73% were "unaware if they have ever been attacked" while 57% lack cyber hygiene practices.
It is also the second time that the Kudankulam plant has been linked to a cyber incident, with malware tied to a North Korean hacker group found on the plant's administrative network in 2019. At the time, the Nuclear Power Corporation said the matter was investigated immediately and plant systems were not affected.
(Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Edwina Gibbs)
(([email protected];))
Purported blueprints of parts of the plant's facilities, supplier details exposed in leak
Nearly 19,000 files relating to the plant are online, researcher says
Plant contractor Reliance Group confirms 'partial breach', says incident reported to the government
By Munsif Vengattil and Aditya Kalra
BENGALURU, July 15 (Reuters) - Ransomware group World Leaks has posted on the dark web a huge cache of files related to India's largest nuclear plant, including purported blueprints of parts of its facilities and supplier details — information it labelled as coming from Reliance Group.
The Kudankulam Nuclear Power Plant, located in the southern state of Tamil Nadu, is the largest of India's seven nuclear plants and central to Prime Minister Narendra Modi's ambitious plans to expand the country's atomic energy capacity.
Indian businessman Anil Ambani's Reliance Group, one of the plant's contractors, told Reuters in a statement that there had been a "partial breach" of its data on a server hosted by third-party Indian data centre service provider Yotta, and that the government has been informed about the incident.
Reliance did not disclose what data had been breached.
The data breach could pose a "serious" risk to the safety of the plant, says Nickolas Roth, a senior director at the Nuclear Threat Initiative, which advises governments and benchmarks countries' preparedness on nuclear security. The breach also underscores how hacks have become more common in India, where many companies are ill-equipped to deal with such threats.
Reuters reviewed the documents, which were dated from 2016 to mid-2025, but could not verify their authenticity. In addition to some blueprints and supplier details, they purportedly show meeting and inspection records, equipment reviews and insurance policies.
The 19,000 files appeared to be the most sensitive of a total 858,000 Reliance files on the World Leaks website.
One of the conglomerate's subsidiaries, Reliance Infrastructure RLIN.NS, won a contract in 2018 to design and build infrastructure for the plant's Unit 3 and Unit 4. Both units, still under construction, are due to be operational by 2027 and are slated to provide a combined 2,000 megawatts of capacity.
World Leaks, a well-known ransomware group that has previously targeted Nike NKE.N and India's Tata Group, did not respond to Reuters queries on the Reliance data breach. The group typically posts stolen corporate data on its website after companies decline to pay the ransom demanded. Its website can only be accessed with a specialised browser.
In June, World Leaks told Reuters it had sought $1.5 million in ransom for Tata Group files that contained confidential component designs of clients Apple AAPL.O and Tesla TSLA.O, adding that it posted the data after Tata "ignored" its demand.
SUSPICIOUS ACTIVITY ON SERVER IN MAY
The Nuclear Power Corporation of India, which commissions and operates the country's nuclear power plants, has been communicating with Reliance about the breach and India's main cybersecurity agency — the Indian Computer Emergency Response Team (CERT-In) — is looking into the incident, according to a source familiar with the matter. The source declined to be identified due to the sensitivity of the issue.
Nuclear Power Corporation Chairman Rajesh Veeraraghavan, CERT-In and the government's main press office did not respond to repeated requests for comment.
Yotta said in a statement it had noted suspicious activity on May 29 on a server it hosts that belongs to Reliance Infrastructure. It said the activity was immediately terminated and that the suspected ransomware execution was prevented, but Reliance Infrastructure informed it at the end of June that there had been claims of a data breach made by "external threat actors."
Yotta said it has not been able to verify the claims of the "threat actor", but added that it has shared its detailed technical investigation with Reliance Infrastructure and supports an ongoing investigation.
India's Department of Atomic Energy declined to comment, while Modi's office did not respond to Reuters queries.
BLUEPRINTS AND INSURANCE POLICIES
The documents posted on World Leaks do not appear to relate to the nuclear reactors' core systems, which are supplied by Russia's state-owned Rosatom.
They did contain purported blueprints for the ventilation and cooling systems used in Unit 3 and Unit 4, as well as what appeared to be the complete floor layout of a "common control room".
The files also included what appeared to be vendor proposals, a list of approved suppliers, and a record of a 2024 meeting about a joint inspection by the Nuclear Power Corporation and Reliance, with photos of equipment.
Another document purports to show that Reliance Infrastructure and the Nuclear Power Corporation had taken out an insurance policy that would entitle them to $112 million if either Unit 3 or Unit 4 were to suffer an act of terrorism.
The files, in the hands of bad actors, could in theory be exploited to map the plant's support systems, identify its suppliers and pinpoint weaknesses in its security chain, according to researchers.
They could "show an adversary not just who has access to the project but which systems that access reaches," said Nuclear Threat Initiative's Roth.
India ranks third among a list of countries suffering the most data breaches, with 28.9 million accounts compromised last year, lagging only the United States and France, according to cybersecurity company Surfshark.
A report last year by the Data Security Council of India and cybersecurity firm Seqrite said that of 204 organisations surveyed across India, some 73% were "unaware if they have ever been attacked" while 57% lack cyber hygiene practices.
It is also the second time that the Kudankulam plant has been linked to a cyber incident, with malware tied to a North Korean hacker group found on the plant's administrative network in 2019. At the time, the Nuclear Power Corporation said the matter was investigated immediately and plant systems were not affected.
(Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Edwina Gibbs)
(([email protected];))
Purported blueprints of parts of the plant's facilities, supplier details exposed in leak
Nearly 19,000 files relating to the plant are online, researcher says
Plant contractor Reliance Group confirms 'partial breach', says incident reported to the government
By Munsif Vengattil and Aditya Kalra
BENGALURU, July 15 (Reuters) - Ransomware group World Leaks has posted on the dark web a huge cache of files related to India's largest nuclear plant, including purported blueprints of parts of its facilities and supplier details — information it labelled as coming from Reliance Group.
The Kudankulam Nuclear Power Plant, located in the southern state of Tamil Nadu, is the largest of India's seven nuclear plants and central to Prime Minister Narendra Modi's ambitious plans to expand the country's atomic energy capacity.
Indian businessman Anil Ambani's Reliance Group, one of the plant's contractors, told Reuters in a statement that there had been a "partial breach" of its data on a server hosted by third-party Indian data centre service provider Yotta, and that the government has been informed about the incident.
Reliance did not disclose what data had been breached.
The data breach could pose a "serious" risk to the safety of the plant, says Nickolas Roth, a senior director at the Nuclear Threat Initiative, which advises governments and benchmarks countries' preparedness on nuclear security. The breach also underscores how hacks have become more common in India, where many companies are ill-equipped to deal with such threats.
Reuters reviewed the documents, which were dated from 2016 to mid-2025, but could not verify their authenticity. In addition to some blueprints and supplier details, they purportedly show meeting and inspection records, equipment reviews and insurance policies.
The 19,000 files appeared to be the most sensitive of a total 858,000 Reliance files on the World Leaks website.
One of the conglomerate's subsidiaries, Reliance Infrastructure RLIN.NS, won a contract in 2018 to design and build infrastructure for the plant's Unit 3 and Unit 4. Both units, still under construction, are due to be operational by 2027 and are slated to provide a combined 2,000 megawatts of capacity.
World Leaks, a well-known ransomware group that has previously targeted Nike NKE.N and India's Tata Group, did not respond to Reuters queries on the Reliance data breach. The group typically posts stolen corporate data on its website after companies decline to pay the ransom demanded. Its website can only be accessed with a specialised browser.
In June, World Leaks told Reuters it had sought $1.5 million in ransom for Tata Group files that contained confidential component designs of clients Apple AAPL.O and Tesla TSLA.O, adding that it posted the data after Tata "ignored" its demand.
SUSPICIOUS ACTIVITY ON SERVER IN MAY
The Nuclear Power Corporation of India, which commissions and operates the country's nuclear power plants, has been communicating with Reliance about the breach and India's main cybersecurity agency — the Indian Computer Emergency Response Team (CERT-In) — is looking into the incident, according to a source familiar with the matter. The source declined to be identified due to the sensitivity of the issue.
Nuclear Power Corporation Chairman Rajesh Veeraraghavan, CERT-In and the government's main press office did not respond to repeated requests for comment.
Yotta said in a statement it had noted suspicious activity on May 29 on a server it hosts that belongs to Reliance Infrastructure. It said the activity was immediately terminated and that the suspected ransomware execution was prevented, but Reliance Infrastructure informed it at the end of June that there had been claims of a data breach made by "external threat actors."
Yotta said it has not been able to verify the claims of the "threat actor", but added that it has shared its detailed technical investigation with Reliance Infrastructure and supports an ongoing investigation.
India's Department of Atomic Energy declined to comment, while Modi's office did not respond to Reuters queries.
BLUEPRINTS AND INSURANCE POLICIES
The documents posted on World Leaks do not appear to relate to the nuclear reactors' core systems, which are supplied by Russia's state-owned Rosatom.
They did contain purported blueprints for the ventilation and cooling systems used in Unit 3 and Unit 4, as well as what appeared to be the complete floor layout of a "common control room".
The files also included what appeared to be vendor proposals, a list of approved suppliers, and a record of a 2024 meeting about a joint inspection by the Nuclear Power Corporation and Reliance, with photos of equipment.
Another document purports to show that Reliance Infrastructure and the Nuclear Power Corporation had taken out an insurance policy that would entitle them to $112 million if either Unit 3 or Unit 4 were to suffer an act of terrorism.
The files, in the hands of bad actors, could in theory be exploited to map the plant's support systems, identify its suppliers and pinpoint weaknesses in its security chain, according to researchers.
They could "show an adversary not just who has access to the project but which systems that access reaches," said Nuclear Threat Initiative's Roth.
India ranks third among a list of countries suffering the most data breaches, with 28.9 million accounts compromised last year, lagging only the United States and France, according to cybersecurity company Surfshark.
A report last year by the Data Security Council of India and cybersecurity firm Seqrite said that of 204 organisations surveyed across India, some 73% were "unaware if they have ever been attacked" while 57% lack cyber hygiene practices.
It is also the second time that the Kudankulam plant has been linked to a cyber incident, with malware tied to a North Korean hacker group found on the plant's administrative network in 2019. At the time, the Nuclear Power Corporation said the matter was investigated immediately and plant systems were not affected.
(Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Edwina Gibbs)
(([email protected];))
Reliance Infrastructure Limited said the Enforcement Directorate issued a provisional attachment order on July 10, 2026, attaching its shareholding in associate company Reliance Power Limited. The attachment, valued at ₹762.75 crore, relates to alleged violations of the Prevention of Money Laundering Act during 2017‑2019. The order was served on the company on July 11, 2026. The development adds to a series of regulatory actions against the infrastructure group, which has already faced provisional attachments on its stake in BSES Yamuna, BSES Rajdhani and Mumbai Metro One. Reliance Infrastructure stated it will take all legally advised steps to protect shareholder interests.
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Reliance Infrastructure Limited said the Enforcement Directorate issued a provisional attachment order on July 10, 2026, attaching its shareholding in associate company Reliance Power Limited. The attachment, valued at ₹762.75 crore, relates to alleged violations of the Prevention of Money Laundering Act during 2017‑2019. The order was served on the company on July 11, 2026. The development adds to a series of regulatory actions against the infrastructure group, which has already faced provisional attachments on its stake in BSES Yamuna, BSES Rajdhani and Mumbai Metro One. Reliance Infrastructure stated it will take all legally advised steps to protect shareholder interests.
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July 10 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
MMOPL DEBT REDUCED BY MORE THAN 11 BILLION RUPEES
MUMBAI METRO ONE ACHIEVES DEBT RESTRUCTURING WITH NATIONAL ASSET RECONSTRUCTION COMPANY
INSOLVENCY PROCEEDINGS AGAINST MMOPL WITHDRAWN
Source text: ID:nBSE5VhGXq
Further company coverage: RLIN.NS
(([email protected];))
July 10 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
MMOPL DEBT REDUCED BY MORE THAN 11 BILLION RUPEES
MUMBAI METRO ONE ACHIEVES DEBT RESTRUCTURING WITH NATIONAL ASSET RECONSTRUCTION COMPANY
INSOLVENCY PROCEEDINGS AGAINST MMOPL WITHDRAWN
Source text: ID:nBSE5VhGXq
Further company coverage: RLIN.NS
(([email protected];))
Reliance Infrastructure Limited said it has been named as an accused in a chargesheet filed by the Central Bureau of Investigation in the Reliance Commercial Finance Limited matter. The company said it learned of the development from a CBI press release and will take all appropriate steps to safeguard its interests and those of its stakeholders.
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Reliance Infrastructure Limited said it has been named as an accused in a chargesheet filed by the Central Bureau of Investigation in the Reliance Commercial Finance Limited matter. The company said it learned of the development from a CBI press release and will take all appropriate steps to safeguard its interests and those of its stakeholders.
Powered by Tijori
SEBI rejects settlement bid over routing of $700 million from Reliance Infrastructure
Regulator calls movement a misuse of company funds
SEBI alleges much larger funding into group-linked firms
Anil Ambani group 'categorically' denies allegations
By Jayshree P Upadhyay
MUMBAI, June 26 (Reuters) - India's financial markets regulator has rejected applications by industrialist Anil Ambani and his corporate group to settle allegations of misusing almost $700 million of company funds, documents reviewed by Reuters show.
The Securities and Exchange Board of India last week rejected the requests over allegations that Ambani and Reliance Infrastructure RLIN.NS were involved in improperly routing 65.26 billion rupees ($691 million) to entities related to controlling shareholder Ambani, the documents show.
Ambani, the younger brother of billionaire Mukesh Ambani, has faced growing scrutiny from regulators and enforcement agencies over the past 18 months. Several group executives have been arrested on fraud charges and some of Anil Ambani's properties have been frozen. The executives have denied wrongdoing, and the cases are still in the courts.
The documents reviewed by Reuters show that SEBI alleged in September that the transactions involving Ambani and Reliance Infrastructure were a "mis-utilisation of company funds", as they could potentially be for personal enrichment rather than serving a corporate purpose for public shareholders.
AMBANI GROUP 'CATEGORICALLY' DENIES ALLEGATIONS
Asked for comment, a spokesperson for the Anil Ambani group said in an email: "The allegations are categorically denied. The matters are sub judice, and the Group will continue to defend its position as legally advised."
SEBI did not respond to an emailed request for comment.
The regulator's rejection of the settlement requests and its specific allegations have not previously been reported. Reliance Infrastructure said in an October exchange filing that SEBI had alleged it violated rules over its financial exposure to a connected entity, without disclosing details.
In rejecting the settlement applications, SEBI cited parallel investigations by other Indian enforcement agencies, including India's financial crime and fraud investigative agencies, the documents reviewed by Reuters showed.
This is the second settlement rejection for Ambani. SEBI last year rejected his plea to settle allegations in a case related to investments in India's Yes Bank.
Under SEBI's settlement process, a company can pay a penalty to settle a case without admitting wrongdoing. If it rejects a settlement, SEBI typically then issues a detailed public order outlining the alleged violations, with consequences ranging from monetary penalties to restrictions on accessing the capital markets. Companies and entities may appeal against such orders in court.
Reliance Infrastructure is looking to tap the markets for what it says is a vital fund-raising, having secured board approval to raise up to 30 billion rupees from the public.
The company previously disclosed an exposure of about 65.26 billion rupees to engineering contractor CLE Private Ltd, which it described as an independent entity.
But SEBI alleged a far larger movement of funds, saying Reliance Infrastructure diverted 176.7 billion rupees ($1.9 billion) to CLE, which then invested at least 112 billion rupees in firms linked to the Ambani-led Reliance ADA Group over a decade through 2024.
And rather than being an independent company, SEBI determined, "for all practical purposes, CLE functioned as a Reliance ADA Group company" that was "indirectly controlled" by Ambani and a few other officials, according to the documents.
An email seeking comment from CLE, sent to its last cited address in India’s company registry, was not immediately answered on Friday.
($1 = 94.3950 Indian rupees)
(Reporting by Jayshree P Upadhyay; Editing by Ira Dugal and William Mallard)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
SEBI rejects settlement bid over routing of $700 million from Reliance Infrastructure
Regulator calls movement a misuse of company funds
SEBI alleges much larger funding into group-linked firms
Anil Ambani group 'categorically' denies allegations
By Jayshree P Upadhyay
MUMBAI, June 26 (Reuters) - India's financial markets regulator has rejected applications by industrialist Anil Ambani and his corporate group to settle allegations of misusing almost $700 million of company funds, documents reviewed by Reuters show.
The Securities and Exchange Board of India last week rejected the requests over allegations that Ambani and Reliance Infrastructure RLIN.NS were involved in improperly routing 65.26 billion rupees ($691 million) to entities related to controlling shareholder Ambani, the documents show.
Ambani, the younger brother of billionaire Mukesh Ambani, has faced growing scrutiny from regulators and enforcement agencies over the past 18 months. Several group executives have been arrested on fraud charges and some of Anil Ambani's properties have been frozen. The executives have denied wrongdoing, and the cases are still in the courts.
The documents reviewed by Reuters show that SEBI alleged in September that the transactions involving Ambani and Reliance Infrastructure were a "mis-utilisation of company funds", as they could potentially be for personal enrichment rather than serving a corporate purpose for public shareholders.
AMBANI GROUP 'CATEGORICALLY' DENIES ALLEGATIONS
Asked for comment, a spokesperson for the Anil Ambani group said in an email: "The allegations are categorically denied. The matters are sub judice, and the Group will continue to defend its position as legally advised."
SEBI did not respond to an emailed request for comment.
The regulator's rejection of the settlement requests and its specific allegations have not previously been reported. Reliance Infrastructure said in an October exchange filing that SEBI had alleged it violated rules over its financial exposure to a connected entity, without disclosing details.
In rejecting the settlement applications, SEBI cited parallel investigations by other Indian enforcement agencies, including India's financial crime and fraud investigative agencies, the documents reviewed by Reuters showed.
This is the second settlement rejection for Ambani. SEBI last year rejected his plea to settle allegations in a case related to investments in India's Yes Bank.
Under SEBI's settlement process, a company can pay a penalty to settle a case without admitting wrongdoing. If it rejects a settlement, SEBI typically then issues a detailed public order outlining the alleged violations, with consequences ranging from monetary penalties to restrictions on accessing the capital markets. Companies and entities may appeal against such orders in court.
Reliance Infrastructure is looking to tap the markets for what it says is a vital fund-raising, having secured board approval to raise up to 30 billion rupees from the public.
The company previously disclosed an exposure of about 65.26 billion rupees to engineering contractor CLE Private Ltd, which it described as an independent entity.
But SEBI alleged a far larger movement of funds, saying Reliance Infrastructure diverted 176.7 billion rupees ($1.9 billion) to CLE, which then invested at least 112 billion rupees in firms linked to the Ambani-led Reliance ADA Group over a decade through 2024.
And rather than being an independent company, SEBI determined, "for all practical purposes, CLE functioned as a Reliance ADA Group company" that was "indirectly controlled" by Ambani and a few other officials, according to the documents.
An email seeking comment from CLE, sent to its last cited address in India’s company registry, was not immediately answered on Friday.
($1 = 94.3950 Indian rupees)
(Reporting by Jayshree P Upadhyay; Editing by Ira Dugal and William Mallard)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
The National Company Law Tribunal, Mumbai bench, admitted an insolvency petition filed by Canara Bank against HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure, for a claim of ₹282.6 crore. HK Toll Road operated a 59.87 km highway stretch under a concession from NHAI, which was terminated in January 2024. Reliance Infrastructure said it had already provided for its ₹355 crore exposure in its books. The order appoints Sanjay Kumar Mishra as interim resolution professional and imposes a moratorium on the subsidiary's assets. The parent company remains locked in separate arbitration and Supreme Court proceedings with NHAI over the same project.
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The National Company Law Tribunal, Mumbai bench, admitted an insolvency petition filed by Canara Bank against HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure, for a claim of ₹282.6 crore. HK Toll Road operated a 59.87 km highway stretch under a concession from NHAI, which was terminated in January 2024. Reliance Infrastructure said it had already provided for its ₹355 crore exposure in its books. The order appoints Sanjay Kumar Mishra as interim resolution professional and imposes a moratorium on the subsidiary's assets. The parent company remains locked in separate arbitration and Supreme Court proceedings with NHAI over the same project.
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June 8 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - UNDERTAKEN STEPS TO INCORPORATE AI AND RELATED TECHNOLOGY-DRIVEN ACTIVITIES
Source text: [ID:]
Further company coverage: RLIN.NS
(([email protected];;))
June 8 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - UNDERTAKEN STEPS TO INCORPORATE AI AND RELATED TECHNOLOGY-DRIVEN ACTIVITIES
Source text: [ID:]
Further company coverage: RLIN.NS
(([email protected];;))
Sept 30 (Reuters) - India's financial crime fighting agency is conducting searches at six premises of Reliance Infrastructure RLIN.NS over alleged violation of foreign exchange laws, a source told Reuters on Tuesday.
Reliance Infrastructure did not immediately respond to a Reuters request for comment.
(Reporting by Nikunj Ohri and Urvi Dugar; Editing by Mrigank Dhaniwala)
(([email protected];))
Sept 30 (Reuters) - India's financial crime fighting agency is conducting searches at six premises of Reliance Infrastructure RLIN.NS over alleged violation of foreign exchange laws, a source told Reuters on Tuesday.
Reliance Infrastructure did not immediately respond to a Reuters request for comment.
(Reporting by Nikunj Ohri and Urvi Dugar; Editing by Mrigank Dhaniwala)
(([email protected];))
Sept 5 (Reuters) - Reliance Infrastructure RLIN.NS said its unit would sell a 2% stake in its Indian joint venture to its partner, Dassault Aviation AM.PA, making the French fighter plane maker a majority owner of the firm with a 51% stake.
The deal will fetch the Anil Ambani group company - which will hold a 49% stake - 1.76 billion rupees (nearly $20 million) and is expected to be closed by November 1, Reliance Infrastructure said in an exchange filing on Friday.
Dassault Reliance Aviation currently makes parts for the Rafale fighter aircraft used by India's air force, as well as some components for Dassault's Falcon 2000 business jets.
($1 = 88.2516 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; Mobile: +91 9591011727;))
Sept 5 (Reuters) - Reliance Infrastructure RLIN.NS said its unit would sell a 2% stake in its Indian joint venture to its partner, Dassault Aviation AM.PA, making the French fighter plane maker a majority owner of the firm with a 51% stake.
The deal will fetch the Anil Ambani group company - which will hold a 49% stake - 1.76 billion rupees (nearly $20 million) and is expected to be closed by November 1, Reliance Infrastructure said in an exchange filing on Friday.
Dassault Reliance Aviation currently makes parts for the Rafale fighter aircraft used by India's air force, as well as some components for Dassault's Falcon 2000 business jets.
($1 = 88.2516 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; Mobile: +91 9591011727;))
** Reliance Infrastructure RLIN.NS and Reliance Power RPOL.NS both fall 5%
** India's federal agency filed a criminal case against industrialist Anil Ambani and his company Reliance Communications RLCM.NS on Saturday over a 30 billion rupee (~$344 million) fraud complaint brought by State Bank of India SBI.NS
** RLIN, RPOL say the criminal investigation has no impact on business operations and financial performance
** A spokesperson for Ambani told Reuters "Mr. Ambani strongly denies all allegations and charges, and will duly defend himself"
** An email query to SBI was not answered immediately
** RLIN down ~14% YTD while RPOL up 4.5%
($1 = 87.3650 Indian rupees)
(Reporting by Urvi Dugar)
** Reliance Infrastructure RLIN.NS and Reliance Power RPOL.NS both fall 5%
** India's federal agency filed a criminal case against industrialist Anil Ambani and his company Reliance Communications RLCM.NS on Saturday over a 30 billion rupee (~$344 million) fraud complaint brought by State Bank of India SBI.NS
** RLIN, RPOL say the criminal investigation has no impact on business operations and financial performance
** A spokesperson for Ambani told Reuters "Mr. Ambani strongly denies all allegations and charges, and will duly defend himself"
** An email query to SBI was not answered immediately
** RLIN down ~14% YTD while RPOL up 4.5%
($1 = 87.3650 Indian rupees)
(Reporting by Urvi Dugar)
** Shares of Reliance Infrastructure RLIN.NS jump 3% to 270 rupees
** Co said it won an order from NHPC NHPC.NS for solar and battery energy storage project
** Stock on track for third straight session of gains
** YTD stock down ~11%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of Reliance Infrastructure RLIN.NS jump 3% to 270 rupees
** Co said it won an order from NHPC NHPC.NS for solar and battery energy storage project
** Stock on track for third straight session of gains
** YTD stock down ~11%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Aug 8 (Reuters) - India’s Reliance Infrastructure RLIN.NS said on Friday that its power distribution companies in New Delhi will recover 214.13 billion rupees ($2.44 billion) in unpaid dues, following a Supreme Court ruling earlier this week that upheld their claims.
The dues stem from historical tariff shortfalls, where electricity prices approved by regulators did not fully cover the cost of supply.
Reliance Infra is part of the Anil Ambani-run Reliance Group. He is the younger brother of billionaire Mukesh Ambani.
Under a court-approved mechanism, the amount will be recovered from consumers over four years starting April 2024, likely through higher electricity tariffs.
On Wednesday, the Supreme Court ordered electricity regulators across India to clear deferred costs and unpaid dues owed to power distribution companies.
The court also instructed state regulators to conduct audits and submit recovery roadmaps.
In New Delhi alone, three distribution companies — including a unit of Tata Power TTPW.NS — had accumulated 272 billion rupees in unpaid dues by March 2024, according to the court document.
The Delhi Electricity Regulatory Commission will oversee the recovery process, which is expected to result in increased electricity bills for consumers in the national capital.
($1 = 87.6140 Indian rupees)
(Reporting by Sethuraman NR in New Delhi; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Aug 8 (Reuters) - India’s Reliance Infrastructure RLIN.NS said on Friday that its power distribution companies in New Delhi will recover 214.13 billion rupees ($2.44 billion) in unpaid dues, following a Supreme Court ruling earlier this week that upheld their claims.
The dues stem from historical tariff shortfalls, where electricity prices approved by regulators did not fully cover the cost of supply.
Reliance Infra is part of the Anil Ambani-run Reliance Group. He is the younger brother of billionaire Mukesh Ambani.
Under a court-approved mechanism, the amount will be recovered from consumers over four years starting April 2024, likely through higher electricity tariffs.
On Wednesday, the Supreme Court ordered electricity regulators across India to clear deferred costs and unpaid dues owed to power distribution companies.
The court also instructed state regulators to conduct audits and submit recovery roadmaps.
In New Delhi alone, three distribution companies — including a unit of Tata Power TTPW.NS — had accumulated 272 billion rupees in unpaid dues by March 2024, according to the court document.
The Delhi Electricity Regulatory Commission will oversee the recovery process, which is expected to result in increased electricity bills for consumers in the national capital.
($1 = 87.6140 Indian rupees)
(Reporting by Sethuraman NR in New Delhi; Editing by Sonia Cheema)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
July 29 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE LTD - MMRDA DEPOSITS 5.60 BILLION RUPEES FOR MMOPL AWARD
Source text: ID:nNSEbQ9GX2
Further company coverage: RLIN.NS
(([email protected];;))
July 29 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE LTD - MMRDA DEPOSITS 5.60 BILLION RUPEES FOR MMOPL AWARD
Source text: ID:nNSEbQ9GX2
Further company coverage: RLIN.NS
(([email protected];;))
** Shares of Reliance Infrastructure REII.NS fall 3% to 331 rupees, their lowest since June 2
** Engineering and construction co posts a 98.6% Q/Q decline in June-qtr profit to 598.4 mln rupees ($6.92 mln); rev from ops rises 43.8% Q/Q
** More than 3.3 mln shares change hands, 1.4x of 30-day avg
** Stock up 8.8% YTD
($1 = 86.5130 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of Reliance Infrastructure REII.NS fall 3% to 331 rupees, their lowest since June 2
** Engineering and construction co posts a 98.6% Q/Q decline in June-qtr profit to 598.4 mln rupees ($6.92 mln); rev from ops rises 43.8% Q/Q
** More than 3.3 mln shares change hands, 1.4x of 30-day avg
** Stock up 8.8% YTD
($1 = 86.5130 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
July 25 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE JUNE-QUARTER CONSOL NET PROFIT 598.4 MILLION RUPEES
RELIANCE INFRASTRUCTURE JUNE-QUARTER CONSOL INCOME FROM OPERATIONS 59.08 BILLION RUPEES
RELIANCE INFRASTRUCTURE: NO IMPACT FROM RECENT ED ACTION ON CO, BUSINESS OPERATIONS, FINANCIAL PERFORMANCE
Source text: ID:nBSE9S6C0y
Further company coverage: RLIN.NS
(([email protected];))
July 25 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE JUNE-QUARTER CONSOL NET PROFIT 598.4 MILLION RUPEES
RELIANCE INFRASTRUCTURE JUNE-QUARTER CONSOL INCOME FROM OPERATIONS 59.08 BILLION RUPEES
RELIANCE INFRASTRUCTURE: NO IMPACT FROM RECENT ED ACTION ON CO, BUSINESS OPERATIONS, FINANCIAL PERFORMANCE
Source text: ID:nBSE9S6C0y
Further company coverage: RLIN.NS
(([email protected];))
** India's Anil Ambani-led Reliance group's Reliance Power RPOL.NS and Reliance Infra RLIN.NS drop 5% each
** India's financial crime fighting agency will cover over 35 premises, 50 companies and over 25 persons associated with Anil Ambani's Reliance Group in a search operation on Thursday, Reuters reports, citing a government source
** Enforcement Directorate is investigating Anil Ambani-led group entities for alleged money laundering, report adds
** Companies did not immediately respond to Reuters' requests for comment
(Reporting by Kashish Tandon in Bengaluru)
** India's Anil Ambani-led Reliance group's Reliance Power RPOL.NS and Reliance Infra RLIN.NS drop 5% each
** India's financial crime fighting agency will cover over 35 premises, 50 companies and over 25 persons associated with Anil Ambani's Reliance Group in a search operation on Thursday, Reuters reports, citing a government source
** Enforcement Directorate is investigating Anil Ambani-led group entities for alleged money laundering, report adds
** Companies did not immediately respond to Reuters' requests for comment
(Reporting by Kashish Tandon in Bengaluru)
July 16 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
TO RAISE 60 BILLION RUPEES VIA EQUITY ISSUANCE
TO ISSUE 30 BILLION RUPEES DEBENTURES
Source text: ID:nBSEt8hzW
Further company coverage: RLIN.NS
(([email protected];))
July 16 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
TO RAISE 60 BILLION RUPEES VIA EQUITY ISSUANCE
TO ISSUE 30 BILLION RUPEES DEBENTURES
Source text: ID:nBSEt8hzW
Further company coverage: RLIN.NS
(([email protected];))
July 3 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
SBI ACTION ON RELIANCE COMMUNICATIONS HAS NO IMPACT ON RELIANCE INFRASTRUCTURE
Source text: ID:nBSEb2jzw
Further company coverage: RLIN.NS
(([email protected];))
July 3 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
SBI ACTION ON RELIANCE COMMUNICATIONS HAS NO IMPACT ON RELIANCE INFRASTRUCTURE
Source text: ID:nBSEb2jzw
Further company coverage: RLIN.NS
(([email protected];))
June 30 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
FORMS STRATEGIC PARTNERSHIP WITH COASTAL MECHANICS, USA
PARTNERSHIP WILL PROVIDE COMPREHENSIVE MAINTENANCE, REPAIR FOR INDIAN FIGHTERS AIRCRAFTS
Source text: ID:nnAZN425F1N
Further company coverage: RLIN.NS
(([email protected];))
June 30 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
FORMS STRATEGIC PARTNERSHIP WITH COASTAL MECHANICS, USA
PARTNERSHIP WILL PROVIDE COMPREHENSIVE MAINTENANCE, REPAIR FOR INDIAN FIGHTERS AIRCRAFTS
Source text: ID:nnAZN425F1N
Further company coverage: RLIN.NS
(([email protected];))
June 23 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE LTD - JR TOLL ROAD PAYS 2.73 BILLION RUPEES DEBT TO YES BANK
Source text: ID:nBSE8Hz8tt
Further company coverage: RLIN.NS
(([email protected];))
June 23 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE LTD - JR TOLL ROAD PAYS 2.73 BILLION RUPEES DEBT TO YES BANK
Source text: ID:nBSE8Hz8tt
Further company coverage: RLIN.NS
(([email protected];))
June 18 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
DASSAULT AVIATION PARTNERS WITH RELIANCE INFRASTRUCTURE SUBSIDIARY
UNIT TO MANUFACTURE FALCON 2000 BUSINESS JETS IN INDIA
DASSAULT TO MANUFACTURE FALCON 2000 JETS OUTSIDE FRANCE FOR FIRST TIME
FINAL ASSEMBLY LINE FOR FALCON 2000 JETS TO BE ESTABLISHED IN NAGPUR
DASSAULT AVIATION TO DELIVER FIRST 'MADE IN INDIA' FALCON 2000 JET BY 2028
DASSAULT AVIATION PARTNERS WITH RELIANCE INFRASTRUCTURE SUBSIDIARY
Source text: ID:nBSE4GWhpQ
Further company coverage: RLIN.NS
(([email protected];;))
June 18 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
DASSAULT AVIATION PARTNERS WITH RELIANCE INFRASTRUCTURE SUBSIDIARY
UNIT TO MANUFACTURE FALCON 2000 BUSINESS JETS IN INDIA
DASSAULT TO MANUFACTURE FALCON 2000 JETS OUTSIDE FRANCE FOR FIRST TIME
FINAL ASSEMBLY LINE FOR FALCON 2000 JETS TO BE ESTABLISHED IN NAGPUR
DASSAULT AVIATION TO DELIVER FIRST 'MADE IN INDIA' FALCON 2000 JET BY 2028
DASSAULT AVIATION PARTNERS WITH RELIANCE INFRASTRUCTURE SUBSIDIARY
Source text: ID:nBSE4GWhpQ
Further company coverage: RLIN.NS
(([email protected];;))
** Shares of Reliance Infrastructure RLIN.NS drop 4.4% to five-month low of 239.05 rupees
** Roads and highways builder says Q3 net loss surged to nearly 33 bln rupees ($380 mln) from 4.21 bln rupees a year ago
** Says latest quarter included a 30.71 bln rupee one-time charge; did not give additional details
** Income from ops grew ~9% y/y, expenses fell 2% y/y
** Stock down 20% YTD, it gained ~45% in 2024
($1 = 86.7350 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of Reliance Infrastructure RLIN.NS drop 4.4% to five-month low of 239.05 rupees
** Roads and highways builder says Q3 net loss surged to nearly 33 bln rupees ($380 mln) from 4.21 bln rupees a year ago
** Says latest quarter included a 30.71 bln rupee one-time charge; did not give additional details
** Income from ops grew ~9% y/y, expenses fell 2% y/y
** Stock down 20% YTD, it gained ~45% in 2024
($1 = 86.7350 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Dec 27 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - UNIT RECEIVES NOTICES FROM AXIS BANK AND IDFC FIRST BANK
RELIANCE INFRASTRUCTURE LTD - NOTICES INVOKE RIGHT OF SUBSTITUTION UNDER CONCESSION AGREEMENT
RELIANCE INFRASTRUCTURE LTD - NOTICES CITE ALLEGED DSRA DEFAULTS BY UNIT
RELIANCE INFRASTRUCTURE - FINANCIAL IMPACT ON CO UNDETERMINED AT THIS STAGE
Source text: ID:nBSE3kWTMJ
Further company coverage: RLIN.NS
(([email protected];;))
Dec 27 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - UNIT RECEIVES NOTICES FROM AXIS BANK AND IDFC FIRST BANK
RELIANCE INFRASTRUCTURE LTD - NOTICES INVOKE RIGHT OF SUBSTITUTION UNDER CONCESSION AGREEMENT
RELIANCE INFRASTRUCTURE LTD - NOTICES CITE ALLEGED DSRA DEFAULTS BY UNIT
RELIANCE INFRASTRUCTURE - FINANCIAL IMPACT ON CO UNDETERMINED AT THIS STAGE
Source text: ID:nBSE3kWTMJ
Further company coverage: RLIN.NS
(([email protected];;))
Updates with Axis Bank's response, stock levels at close
** Shares of Reliance Infrastructure RLIN.NS gives up most of the session's losses to end flat; Axis Bank AXBK.NS reverses course to rise 0.2%
** RLIN said India's Supreme Court issues show-cause notice to co's unit, Delhi Airport Metro Express Pvt Ltd, and Managing Director of AXBK
** Notice from Supreme Court asks why contempt proceedings should not be initiated against them for violation of directions contained in an April 2024 judgment
** RLIN said its unit will take "appropriate steps to protect its interest" in the matter, adding financial implications are unascertainable at this stage
** Contempt petition not been served on the bank, Axis Bank spokesperson says, adding will review the contempt petition on receipt and take appropriate legal recourse
** RLIN logs first weekly loss in three; AXBK shares snap four-session losing streak
** RLIN has risen over 40%, while AXBK has gained 4% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Updates with Axis Bank's response, stock levels at close
** Shares of Reliance Infrastructure RLIN.NS gives up most of the session's losses to end flat; Axis Bank AXBK.NS reverses course to rise 0.2%
** RLIN said India's Supreme Court issues show-cause notice to co's unit, Delhi Airport Metro Express Pvt Ltd, and Managing Director of AXBK
** Notice from Supreme Court asks why contempt proceedings should not be initiated against them for violation of directions contained in an April 2024 judgment
** RLIN said its unit will take "appropriate steps to protect its interest" in the matter, adding financial implications are unascertainable at this stage
** Contempt petition not been served on the bank, Axis Bank spokesperson says, adding will review the contempt petition on receipt and take appropriate legal recourse
** RLIN logs first weekly loss in three; AXBK shares snap four-session losing streak
** RLIN has risen over 40%, while AXBK has gained 4% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Dec 12 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - SUPREME COURT ISSUED NOTICE TO MD OF DAMEPL, AXIS BANK
RELIANCE INFRASTRUCTURE - CO NOT PARTY TO PROCEEDINGS INITIATED BY DMRC
RELIANCE INFRASTRUCTURE - APRIL 10 JUDGMENT DOES NOT IMPOSE ANY LIABILITY UPON CO
Source text: ID:nBSE47VMlK
Further company coverage: RLIN.NS
(([email protected];))
Dec 12 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
RELIANCE INFRASTRUCTURE - SUPREME COURT ISSUED NOTICE TO MD OF DAMEPL, AXIS BANK
RELIANCE INFRASTRUCTURE - CO NOT PARTY TO PROCEEDINGS INITIATED BY DMRC
RELIANCE INFRASTRUCTURE - APRIL 10 JUDGMENT DOES NOT IMPOSE ANY LIABILITY UPON CO
Source text: ID:nBSE47VMlK
Further company coverage: RLIN.NS
(([email protected];))
Dec 10 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
UNIT RELIANCE VELOCITY INCORPORATED UNIT RELIANCE EV GO PVT LTD
Source text: [ID:]
Further company coverage: RLIN.NS
(([email protected];))
Dec 10 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:
UNIT RELIANCE VELOCITY INCORPORATED UNIT RELIANCE EV GO PVT LTD
Source text: [ID:]
Further company coverage: RLIN.NS
(([email protected];))
** Reliance Infrastructure's shares RLIN.NS up 5% to 267 rupees
** Co said on Tuesday said it will invest 100 bln rupees ($1.19 bln) over the next ten years on a project to produce explosives, ammunition and small arms
** Stock ended lower in last two sessions; has gained 27% YTD
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Reliance Infrastructure's shares RLIN.NS up 5% to 267 rupees
** Co said on Tuesday said it will invest 100 bln rupees ($1.19 bln) over the next ten years on a project to produce explosives, ammunition and small arms
** Stock ended lower in last two sessions; has gained 27% YTD
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Oct 22 (Reuters) - Indian industrialist Anil Ambani's Reliance Infrastructure RLIN.NS said on Tuesday it will invest 100 billion rupees ($1.19 billion) over the next ten years on a project to produce explosives, ammunition and small arms.
India, which counts the Tata Group, the Adani Group and Larsen & Toubro as major private defence manufacturers, has been pushing to increase domestic production of defence equipment, with exports hitting an all-time high of 210.83 billion rupees in the previous fiscal year.
Reliance Infra will set up the project in the western state of Maharashtra and is aiming for potential joint ventures with six global defence companies, the company said in an exchange filing, without giving any further details.
It currently operates JVs with French defence firms Dassault Aviation AM.PA and Thales TCFP.PA. The JVs export to countries such as France, and their products include engine doors for the Rafale fighter jet.
Reliance Infra, whose units already have licences from the government to make arms and ammunition, has exported defence equipment worth more than 10 billion rupees over an unspecified period.
($1 = 84.0460 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Varun H K)
(([email protected]; +918447554364;))
Oct 22 (Reuters) - Indian industrialist Anil Ambani's Reliance Infrastructure RLIN.NS said on Tuesday it will invest 100 billion rupees ($1.19 billion) over the next ten years on a project to produce explosives, ammunition and small arms.
India, which counts the Tata Group, the Adani Group and Larsen & Toubro as major private defence manufacturers, has been pushing to increase domestic production of defence equipment, with exports hitting an all-time high of 210.83 billion rupees in the previous fiscal year.
Reliance Infra will set up the project in the western state of Maharashtra and is aiming for potential joint ventures with six global defence companies, the company said in an exchange filing, without giving any further details.
It currently operates JVs with French defence firms Dassault Aviation AM.PA and Thales TCFP.PA. The JVs export to countries such as France, and their products include engine doors for the Rafale fighter jet.
Reliance Infra, whose units already have licences from the government to make arms and ammunition, has exported defence equipment worth more than 10 billion rupees over an unspecified period.
($1 = 84.0460 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Varun H K)
(([email protected]; +918447554364;))
Corrects to clarify in paragraph 2 that the company issued the news on Tuesday
MUMBAI, Oct 4 (Reuters) - India's Reliance Infrastructure RLIN.NS said it plans to raise up to $350 million by issuing foreign currency convertible bonds (FCCBs) to VFSI Holdings, an affiliate of investment firm Varde Investment.
The convertible bonds will have an "ultra-low cost" interest of 5% per annum with a long maturity of 10 years, the company said in a statement on Tuesday.
The FCCBs will be convertible into equity at 330 rupees per share.
The company, however, has not given any timeline for the issuance of the convertible bonds.
FCCBs are a mix of debt and equity instruments but act like bonds as they have regular coupon payments and give holders the option to convert the bonds into equity.
(Reporting by Bhakti Tambe; Editing by Savio D'Souza)
Corrects to clarify in paragraph 2 that the company issued the news on Tuesday
MUMBAI, Oct 4 (Reuters) - India's Reliance Infrastructure RLIN.NS said it plans to raise up to $350 million by issuing foreign currency convertible bonds (FCCBs) to VFSI Holdings, an affiliate of investment firm Varde Investment.
The convertible bonds will have an "ultra-low cost" interest of 5% per annum with a long maturity of 10 years, the company said in a statement on Tuesday.
The FCCBs will be convertible into equity at 330 rupees per share.
The company, however, has not given any timeline for the issuance of the convertible bonds.
FCCBs are a mix of debt and equity instruments but act like bonds as they have regular coupon payments and give holders the option to convert the bonds into equity.
(Reporting by Bhakti Tambe; Editing by Savio D'Souza)
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Popular questions
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What does Reliance Infrast. do?
Reliance Infrastructure Limited is a major player in infrastructure development, focusing on Power, Roads, Airport, Metro Rail, and Defence projects through Special Purpose Vehicles, with a strong presence in the power sector and Engineering and Construction.
Who are the competitors of Reliance Infrast.?
Reliance Infrast. major competitors are CESC, Adani Energy Solut., Power Grid Corpn., INDIGRID Infra Trust. Market Cap of Reliance Infrast. is ₹2,726 Crs. While the median market cap of its peers are ₹1,12,369 Crs.
Is Reliance Infrast. financially stable compared to its competitors?
Reliance Infrast. seems to be less financially stable compared to its competitors. Altman Z score of Reliance Infrast. is 0.98 and is ranked 4 out of its 5 competitors.
Does Reliance Infrast. pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Reliance Infrast. latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Reliance Infrast. allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Reliance Infrast. balance sheet?
Reliance Infrast. balance sheet is weak and might have solvency issues
Is the profitablity of Reliance Infrast. improving?
The profit is oscillating. The profit of Reliance Infrast. is ₹4,923 Crs for TTM, ₹4,938 Crs for Mar 2025 and -₹1,608.66 Crs for Mar 2024.
Is the debt of Reliance Infrast. increasing or decreasing?
Yes, The net debt of Reliance Infrast. is increasing. Latest net debt of Reliance Infrast. is ₹2,600 Crs as of Mar-26. This is greater than Mar-25 when it was ₹591 Crs.
Is Reliance Infrast. stock expensive?
Reliance Infrast. is not expensive. Latest PE of Reliance Infrast. is 0.94, while 3 year average PE is 2.18. Also latest EV/EBITDA of Reliance Infrast. is 1.02 while 3yr average is 5.06.
Has the share price of Reliance Infrast. grown faster than its competition?
Reliance Infrast. has given lower returns compared to its competitors. Reliance Infrast. has grown at ~-19.13% over the last 9yrs while peers have grown at a median rate of 8.0%
Is the promoter bullish about Reliance Infrast.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Reliance Infrast. is 19.05% and last quarter promoter holding is 19.05%.
Are mutual funds buying/selling Reliance Infrast.?
The mutual fund holding of Reliance Infrast. is increasing. The current mutual fund holding in Reliance Infrast. is 0.52% while previous quarter holding is 0.38%.