Reliance Power Ltd

Regulatory update

• Reliance Power and Reliance CleanGen Limited are among proposed accused in the ED complaint.
• They received a Pre-Cognizance notice under Section 223 of the 2023 Act from a Special Judge, CBI.
• Alleged amount involved is about Rs 715 crore under PMLA; financial impact not ascertainable yet.
• Company will take appropriate steps to safeguard its interests.

AGM Details

• Date and time: August 14, 2026, 12:00 IST; mode: VC/OAVM.
• Remote e-voting ran Aug 10–13, 2026; scrutinizer appointed.

Resolutions and outcomes

• Adoption of audited financial statements and consolidated results for year ending March 31, 2026 — Passed.
• Re-appointment of director retiring by rotation (Sachin Mohapatra) — Passed.
• Appointment of statutory auditors and fixation of their remuneration — Passed.
• Remuneration to cost auditors — Passed.
• Appointment of Dr. Avinash Gupta as Independent Director — Passed.
• Issue of securities through Qualified Institutions Placement — Passed.
• Issue of Non-Convertible Debentures — Passed.

Other AGM details

• AGM concluded at 01:22 PM; e-voting portal closed at 01:37 PM.

ED attachment details

• Provisional Attachment Order No. 33/2026 dated July 10, 2026 issued by ED.
• Attached promoter shares held by Reliance Infrastructure Limited valued at Rs 762.75 crore.
• Receivables attached: Rs 116.96 crore from Sasan Power Limited.
• Receivables attached: Rs 141.48 crore from Reliance Cleangen Limited.
• Sasan Power Limited and Reliance Cleangen Limited are wholly owned subsidiaries.
• Date of receipt: July 11, 2026.
• Period of applicability: 2017 to 2019.
• Total expected financial implications: Rs 258.44 crore.
• Alleged violations under PMLA cited in the communication.
• Company actions: safeguard interests and seek legal advice.

Tax penalty details

• Penalty of Rs 2,44,93,394 levied under Section 271(1)(c) for AY 2016-17.
• Disallowance under Section 14A with Rule 8D and a transfer pricing adjustment.
• Order dated June 29, 2026, received July 2, 2026.
• No impact on operations; only penalty payable.
• Company plans to appeal; expects a favourable outcome.

AI strategy update

• Initiated AI-focused expansion; incorporated AI-enabled services into business framework.

Subsidiary renaming

• Subsidiaries renamed to Reliance AI Green Power, Reliance AI Power, Reliance AI Data Control, Reliance AI Data C.

Meeting Details

• Board meeting on Thursday, May 21, 2026.
• Location not disclosed.

Key Agenda Items

• Approve audited standalone and consolidated financial results for quarter and year ended March 31, 2026.
• Consider raising long-term resources through equity, equity-linked securities, warrants, QIP, FCCBs, or NCDs.
• Determine issue price and seek necessary member and other approvals for the fundraising.

Other Notes

• Trading window for designated persons closed from April 1, 2026 until 48 hours after results disclosure.

Media clarification

• Reliance Group clarified two former executives left the group in 2019 and had no later association.
• The statement said Amitabh Jhunjhunwala left in September 2019 and Amit Bapna left in December 2019.