Overview
- Reliance described Cobrapost’s effort as a malicious, agenda-driven campaign targeting the group, Anil Ambani and roughly 5.5 million shareholders.
- The company alleged the portal was revived to push down share prices and enable rivals to acquire assets such as BSES, Mumbai Metro and the 1,200 MW Rosa Power project at depressed values.
- Reliance Infrastructure and Reliance Power said they have lodged a complaint with SEBI seeking an investigation into recent trading patterns for possible manipulation.
- The group cited a combined market-cap erosion of more than Rs 15,000 crore over three months, attributing the slide to speculative trading and misinformation.
- Cobrapost has scheduled a press conference alleging diversion of about Rs 28,874 crore, with invitation material referencing roughly Rs 41,000 crore, claims Reliance rejects as recycled and tied to improper pressure tactics it equates with extortion.