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After receiving media queries regarding a proposed press conference by now-defunct online platform, Reliance Group said on Wednesday that certain corporate rivals, acting through nominated individual and associated entities, have undertaken a “deliberate and sustained campaign of calumny, disinformation, and character assassination” against it. Describing Cobrapost as a self-appointed custodian of public interest, Reliance Group said that the sole objective behind these actions is to create confusion and undermine the confidence of over 55 lakh shareholders of Reliance Infrastructure and Reliance Power.

These corporate rivals appear to be orchestrating this alleged exercise with the malicious intent to tarnish the reputation of Reliance Infrastructure, Reliance Power, Anil Ambani, as well as the more than 55 lakh shareholders, said Reliance Group. It also said that the rivals’ underlying motive is “to influence public perception, and manipulate market sentiment to serve their own vested commercial interests”.

The group said it views the proposed press conference as a "calculated attempt to tarnish" its and Anil Ambani's image, credibility, and standing, while seeking to destabilise shareholder confidence and influence ongoing investigations.

Reliance Infrastructure and Reliance Power are part of Reliance Group, led by top businessman Anil Ambani. Both Reliance Infrastructure and Reliance Power are debt-free with zero outstanding loans from banks or other financial institutions. Reliance Group also stated that its financial strength is reflected in its net worth, and annual turnover -- each amounting to over Rs 33,000 crore.

Reliance Group categorically asserts that there are no new facts or revelations in the material being circulated or proposed to be disseminated.

Cobrapost’s so-called “exposé” is merely a regurgitation of old publicly available information – misrepresented, distorted, and taken entirely out of context, said Reliance Group, adding: “The information being referred to is long available in the public domain and has already been examined by statutory authorities, including the CBI, ED, SEBI, and other competent agencies.”

A large number of matters are sub judice and are being adjudicated before competent judicial forums, and any suo motu comments or statements on these subjects would amount to contempt of court, and interference with the right to fair trial, said the Anil Ambani-led group.

Reliance Group also expressed deep concern that Aniruddha Bahal, founder and editor-in-chief of Cobrapost, has engaged in “improper and coercive tactics”, seeking to “extract concessions that ‘more than meets the eye’ from the Reliance Group under the guise of professional and impartial journalism”. A number of individuals claiming association with Cobrapost have approached the Group’s well-wishers, suggesting that the matter could be “settled” through means that raises serious ethical and legal questions, noted the Reliance Group.

Reliance Group said it considers any such conduct to be unlawful and unacceptable, reflecting a disturbing pattern of blackmail and greenmail-style tactics that have no place in ethical practice. Strongly condemning such practices, it said it would take all necessary measures to protect interests of its shareholders, including pursuing all appropriate legal remedies, ranging from contempt proceedings to defamation actions.

Reliance Group also said that Cobrapost, dormant since 2019, has zero journalistic credibility and a 100 per cent track record of agenda-driven stings. Its sudden revival is fully funded by entities with direct commercial interest in acquiring Reliance Group assets, added the Anil Ambani-led group.

Over the years, Cobrapost has lost both relevance and credibility in the public domain, with its activities often reflecting the motives of vested interests rather than any genuine concern for transparency or accountability. “The latest attempt to masquerade as a crusader for truth is nothing more than an opportunistic effort to grab attention with serious ulterior purposes,” said Reliance Group.

Calling the campaign a predatory strategy to crash stocks and grab assets at throwaway prices, Reliance Group stated that these vested interests and corporate rivals, in line with their standard predatory strategies to acquire valuable assets at throwaway prices, appear to be allegedly sponsoring this malicious campaign with only and clear commercial motive. “These entities are attempting to crash the stock prices, and engineer panic in the markets in order to acquire valuable assets of Reliance Infrastructure and Reliance Power at distressed valuations or rock bottom stock price levels,” noted the Anil Ambani-led group.

It also noted that BSES Limited is the country’s leading power distribution company, supplying electricity to over two-thirds of the national capital’s households and serving more than 50 lakh consumers. Describing Mumbai Metro as the lifeline of Mumbai, it said the service encompasses valuable real estate assets integral to city’s infrastructure landscape and serves more than five lakh commuters daily. The group also stated that its 1,200 MW Rosa Power Project, operating under a long-term 25-year Power Purchase Agreement (PPA), is a key contributor to energy infrastructure in the country.

Reliance Group noted that “rumor-mongering, speculative trading, and orchestrated misinformation” has caused the combined market capitalisation of Reliance Infrastructure and Reliance Power by more than Rs 15,000 crore in three months.

The credibility, intent and funding of Cobrapost, and its associates merit serious scrutiny, said Reliance Group.

Shareholder protection comes first

The Reliance Group also said that Reliance Infra and Reliance Power have experienced heightened speculation and rumour‑driven volatility in the last quarter. In order to safeguard investor interests, said the group, the companies have filed a complaint with market regulator SEBI, requesting an immediate review of trading patterns, and any activities that may undermine market integrity and erode shareholder value.

“We urge investors and media to rely on audited disclosures and regulatory filings rather than unverified claims,” it noted.