Anil Ambani, Chairman and CEO of the Reliance Group, has written to Union Finance Minister Nirmala Sitharaman seeking the constitution of a lenders’ committee led by State Bank of India and Bank of Baroda to determine outstanding dues and devise a structured repayment plan, amid mounting legal and regulatory pressures on his group.
In a letter dated March 17, Ambani said the proposed panel would help “crystallise legally outstanding dues” and bring clarity to obligations, in line with submissions already made before the Supreme Court in ongoing proceedings.
The Reliance Group chairman highlighted the impact of investigations by agencies such as the CBI and Enforcement Directorate, noting that actions over the past several months—including multiple FIRs, arrests, and provisional attachment of assets worth over ₹15,000 crore—have severely constrained operations. He added that freezing of bank accounts and credit lines has “effectively locked up liquidity,” paralysing businesses and eroding investor value.
Ambani said the developments have resulted in a loss of more than ₹25,000 crore in market capitalisation, affecting over 5 million retail shareholders. He pointed out that the situation is “at its core, a pure commercial matter between lenders and borrowers” and called for a structured resolution mechanism rather than enforcement-led action.
The letter also referenced a counter affidavit filed before the Supreme Court on behalf of group firms including Reliance Infrastructure and Reliance Power, where Ambani has sought the formation of a high-powered committee to examine the issues.
The proposed lenders’ committee, he said, would provide a transparent and time-bound framework for debt resolution, restore confidence among stakeholders, and enable revival of business operations.
Published on April 23, 2026