Reliance Power Limited — Important, 06-12-2024: Fraud/Default/Arrest

Samalkot Power Limited, a subsidiary of Reliance Power, has fully paid its outstanding interest of USD 15.48 million on a Term Loan with the Export-Import Bank of the United States. This payment cures the default of Reliance Power as the Guarantor for this loan, alleviating potential contingent liabilities on the company.

This development is likely to bolster investor sentiment by reducing financial risks associated with the default while ensuring the company maintains financial discipline. The prompt corrective action reflects management's commitment to sustaining fiscal health and operational stability.