Amitabh Jhunjhunwala Arrest: Reliance Group Response

New Delhi, Apr 16 (PTI) A day after the Enforcement Directorate arrested Anil Ambani-led Reliance Group's former senior executive Amitabh Jhunjhunwala in a money laundering case, Reliance Power on Thursday said Jhunjhunwala has had no association with the Group after 2019.

The probe pertains to an alleged bank loan fraud perpetrated through Anil Ambani group companies like Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RHFL) using shell or dummy companies.

The money laundering case of the ED stems from FIRs filed by the Central Bureau of Investigation.

Jhunjhunwala had been a director of Reliance Capital Ltd, the holding company of RHFL and RCFL, from March 2003-September 2019.


The Enforcement Directorate has also arrested former senior executive Amit Bapna in an alleged bank loan fraud and money laundering case.

The company said Bapna too left the Reliance Group in December 2019 and has had no association with the Group thereafter, including with Reliance Infrastructure and Reliance Power. He served as Chief Financial Officer of Reliance Capital, as well as Director of Reliance Home Finance.

Reliance Infrastructure and Reliance Power have a combined investor base of approximately 50 lakh shareholders and serve millions of customers, a company statement in response to some media queries, said.

Reliance Power has a total installed capacity of 5,305 MW, including 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the largest integrated thermal power plant in the world.