Reliance Communications Limited — Important, 04-11-2025: Disclosure of material issue

**RCOM Update:** ED has provisionally attached assets of two RCOM subsidiaries, Campion Properties (CPL) and Reliance Realty (RRL), as part of an ongoing money laundering investigation. 🚨

**The Issue:** This action follows a CBI FIR alleging over **?2,929.05 Cr** wrongful loss to SBI due to alleged fraud, fund diversion, and violation of loan terms by the Anil Ambani Group (RAAG). The probe covers a total of **?40,185.55 Cr** in outstanding loans across consortium and non-consortium banks. ED cited instances of funds being siphoned abroad, used for undeclared purposes, and diverted to related entities.

**Impact:** The attached assets include CPL's New Delhi land lease (valued at **?2,162.74 Cr**) and a significant plot in Navi Mumbai belonging to RRL. This could adversely affect the value of RCOM's investment in these subsidiaries. The ED also highlighted previous attempts by the Reliance group to influence the Committee of Creditors (CoC) during RCOM's insolvency process by routing funds to acquire group debt.

**Company's Stance:** RCOM is currently under a Corporate Insolvency Resolution Process (CIRP) since June 2019, with a Resolution Professional managing its affairs. This means the Resolution Professional will be responsible for addressing these provisional attachment orders. #RCOM #EDAction #Insolvency #AnilAmbaniGroup