Reliance Infrastructure’s stock declined nearly 2% after receiving a pre-cognisance notice from a special CBI court regarding an ED complaint linked to a Rs 3,000 crore money-laundering case, intensifying regulatory scrutiny on the group.
Reliance Infrastructure shares remained under pressure on Tuesday after the company said it had received a pre-cognisance notice from a special CBI court in New Delhi over an Enforcement Directorate complaint tied to an alleged Rs 3,000 crore money-laundering case. The stock slipped nearly 2% in intraday trade, extending a week-long decline and adding to steep losses over the past six months and the past year.
The latest development comes amid a wider enforcement push around the Reliance ADA Group. According to reports in The Tribune, the Enforcement Directorate has already provisionally attached assets worth about Rs 3,034.90 crore in a separate case involving Reliance Communications, following complaints from several state-run lenders over large unpaid loans. Other reports say investigators have also widened scrutiny to include properties and business assets linked to the group, reinforcing the pressure on the listed companies connected to Anil Ambani.
The company said in a stock exchange filing that it was reviewing the notice and that it could not yet quantify the financial impact. It also said it remained focused on safeguarding the interests of shareholders and other stakeholders. Financial Express reported that Reliance Infrastructure has stressed the proceedings do not affect its day-to-day operations and that Ambani has not served on the company’s board for more than three-and-a-half years.
Reuters-style market watchers are likely to treat the case as another legal overhang rather than an immediate operational shock, but the share price reaction suggests investors remain wary. The combination of regulatory action, asset attachment and the prospect of a formal legal reply keeps the group under close scrutiny as the case moves forward.
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