Reliance Power Ltd dropped sharply by over 10%

Reliance Power Ltd shares dropped sharply by over 10% on October 13, 2025, after the Enforcement Directorate (ED) arrested the company’s Chief Financial Officer and Executive Director, Ashok Kumar Pal, under provisions of the Prevention of Money Laundering Act (PMLA), 2002. Pal resigned from his post to cooperate with the investigation. The case relates to an allegedly forged ₹68.2 crore bank guarantee submitted to the Solar Energy Corporation of India (SECI) on behalf of the company’s subsidiary, Reliance NU BESS Ltd.