Reliance Group Denies Cobrapost Allegations, Calls It ‘Disinformation Campaign’

In a strongly worded statement issued Wednesday, Reliance Group has accused unnamed corporate rivals of orchestrating a “deliberate and sustained campaign of calumny, disinformation, and character assassination” against the company. The statement comes in response to an anticipated press conference by Cobrapost, which Reliance described as a “now-defunct online platform.”

The conglomerate alleges that competitors are working through “nominated individuals and associated entities” in what appears to be a coordinated attempt to damage the reputation of Reliance Infrastructure, Reliance Power, and the group’s chairman, Anil Ambani.

According to Reliance, the timing of Cobrapost’s planned press conference is strategic, aimed at creating confusion and undermining confidence among the company’s 55 lakh shareholders. The group characterized Cobrapost as a “self-appointed custodian of public interest” whose actions serve hidden commercial agendas.

“The underlying motive is to influence public perception, and manipulate market sentiment to serve their own vested commercial interests,” Reliance stated, suggesting that the press conference represents an attempt to destabilize shareholder confidence and potentially influence ongoing investigations.

The Anil Ambani-led group emphasized that both Reliance Infrastructure and Reliance Power are debt-free with zero outstanding loans from banks or financial institutions. The statement highlighted the group’s financial standing, noting a net worth and annual turnover each exceeding Rs 33,000 crore.

Reliance Group dismissed the material expected to be presented at the press conference as merely a “regurgitation of publicly available information” that has been “misrepresented, distorted, and taken entirely out of context.” The company stressed that the information has previously been examined by various regulatory authorities including the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Securities and Exchange Board of India (SEBI), and other competent agencies.

The statement also noted that many matters referenced are currently under judicial consideration, suggesting that any unauthorized commentary could potentially amount to contempt of court.

In a particularly serious allegation, Reliance accused Aniruddha Bahal, founder and editor-in-chief of Cobrapost, of engaging in “improper and coercive tactics.” The group claims Bahal sought to “extract concessions” from Reliance Group “under the guise of professional and impartial journalism.”

The company further alleged that individuals claiming association with Cobrapost approached people connected to Reliance, suggesting the matter could be “settled” through what the group characterized as “ethically and legally questionable means.” Reliance described such behavior as “unlawful and unacceptable,” reflecting “a disturbing pattern of blackmail and greenmail-style tactics.”

Reliance questioned Cobrapost’s credibility, noting the platform has been largely dormant since 2019. The group suggested the platform’s “sudden revival” is being funded by entities with “direct commercial interest in acquiring Reliance Group assets.”

In response to these developments, Reliance Group indicated it would take measures to protect its shareholders’ interests, including potential legal actions ranging from contempt proceedings to defamation suits.

The confrontation highlights ongoing tensions in India’s highly competitive business landscape, where corporate rivalries occasionally spill into public view. For Reliance Group, which has navigated various business challenges in recent years, maintaining shareholder confidence remains a priority as it continues to position its debt-free infrastructure and power businesses in the market.