Reliance Power says co has no impact on its biz operations due to Bank of Baroda’s action against Anil Ambani & RCom
New Delhi: Reliance Power on Friday said that action taken by Bank of Baroda against Reliance Communications has no impact on its business operations and financial performance.
After State Bank of India and Bank of India, another lender, Bank of Baroda, has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged misutilisation of loans granted more than a decade back.
In an exchange filing, Reliance Power said it is a separate and independent listed entity, with no business or financial linkage to Reliance Communications.
