Reliance Power Ltd shares were trading at ₹28.64 on the National Stock Exchange (NSE), reflecting a decrease of ₹0.35 or 1.21% at 11:40 AM today.
The Export Import Bank of the United States (US Exim) has initiated an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, against Reliance Power, claiming a debt default amounting to net US$165.41 million by its subsidiary, Samalkot Power Ltd (SPL), which Reliance Power had guaranteed.
This development was disclosed to the stock exchanges by Reliance Power after trading hours on April 29, 2026. The company contended that the application lacks legal merit, highlighting that SPL had proactively filed a case before the London Court of International Arbitration on June 29, 2025, against US Exim and Citibank N.A., the facility agent. SPL is contesting that the debt is not yet due, and the arbitration proceedings remain ongoing.
Reliance Power indicated that it has received legal advice suggesting the Section 7 petition is not tenable and will be contested accordingly. This matter was initially brought to the attention of the exchanges by the company on July 1, 2025.
This latest development adds to the ongoing legal and financial challenges faced by the Anil Ambani-led power company. Reliance Power has stated that it will take all necessary steps, as advised by its legal counsel, to protect its interests.
Published on April 30, 2026.
