Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Reliance Power Limited ( (IN:RPOWER) ) has provided an update.
Reliance Power Limited has disclosed that its Executive Director and Chief Financial Officer, Shri Ashok Kumar Pal, was arrested by the Enforcement Directorate under the Prevention of Money Laundering Act in connection with a fraud case involving fake endorsements of bank guarantees. The company, which considers itself a victim in this matter, has stated that Mr. Pal has stepped down from his position to assist with the investigation. The company also clarified that Anil D. Ambani has not been on the board for over three years and is not involved in the case. Reliance Power is committed to taking all necessary legal steps to address the situation.
More about Reliance Power Limited
Reliance Power Limited is a company operating in the energy sector, primarily focusing on the development, construction, and operation of power projects. The company is involved in various segments of power generation, including coal, gas, hydroelectric, and renewable energy sources, aiming to meet the growing energy demands in India.
Average Trading Volume: 2,786,256
Technical Sentiment Signal: Buy
Current Market Cap: 183.8B INR
For a thorough assessment of RPOWER stock, go to TipRanks’ Stock Analysis page.