Operations of Reliance Power remain unaltered. CBI's action targeted at Reliance Communications has no impact, as stated by Anil Ambani.

Reliance Communications Limited, a telecommunications company, is currently under the management of a Committee of Creditors led by the State Bank of India and is being overseen by a Resolution Professional. The company is under investigation by the Central Bureau of Investigation (CBI) on allegations of defrauding the State Bank of India, causing a loss of Rs 2929.05 crore.

The case, which pertains to Reliance Communications, involves allegations of wrongdoing by the company and its director, Anil D Ambani. The CBI registered the case against Reliance Communications Ltd., Anil D Ambani, and others on August 21, as per a press note.

It is important to note that the case is not related to Reliance Power Limited, a separate and independent listed entity with no business or financial ties to Reliance Communications. Reliance Power reiterated its focus on executing its business plans and reaffirmed its commitment to delivering value to all stakeholders.

Anil D Ambani, who has been selectively singled out in the case, has not been on the Board of Reliance Power for more than three and a half years. He also served merely as a Non-Executive Director at Reliance Communications without any role in its day-to-day management.

The case, which remains sub judice, meaning it is under consideration by a court of law, stems from a complaint filed by the State Bank of India that pertains to matters dating back more than a decade. The investigation agency's press note also mentions that proceedings against five other Non-Executive Directors have already been withdrawn.

Reliance Power Limited clarified that recent actions taken by the CBI against Reliance Communications Limited and Anil D Ambani have no impact on its business operations. Any developments related to Reliance Communications have no impact on the governance, management, or operations of Reliance Power.

Anil Ambani, in response to the allegations, has strongly denied all charges and has stated that he will duly defend himself. The case is currently under investigation by the CBI.

The case remains under the supervision of a Committee of Creditors led by the State Bank of India and is being overseen by a Resolution Professional. The case is also under consideration by the National Company Law Tribunal and other judicial forums, including the Supreme Court, where it has been pending for the past six years.