Sources claimed that the names cover a cross-section of individuals, ranging from members of Parliament and state legislators to those in Reliance Industries Ltd (RIL).
An RPL spokesperson said, “We have filed a formal complaint with Sebi to investigate the disinformation campaign launched against Reliance Power IPO.”
RPL had filed a draft red herring prospectus (DRHP) with Sebi for its IPO on October 3, 2007, and since then, there have been media reports on irregularities against RPL, claiming that Reliance Energy Ltd (REL) has passed on power projects from its kitty to RPL.
“Reliance ADAG intends Reliance Power to be its primary vehicle for investment in the power generation sector in the future,” the group said in its DRHP.
Sources also claimed that the Sebi complaint relates to forging of letters by individuals while petitioning various government offices against REL projects being passed on to RPL.
There are about a half a dozen members of Parliament and state legislators who have written such letters.
According to the DRHP, RPL has 12 power projects with it, though the growth driver for the company will be the 3,960 MW Sasan ultra mega power project.
The project recently received certification for availing fiscal benefits under the mega power policy of the government.
Incidentally, throughout the run-up to the Sasan project, media reports had said that it was REL which was in the race for the project.
Eventually, it was RPL which received the letter of intent from Sasan Power Company, a shell company created for the purpose.
After the IPO, group companies Reliance Energy Ltd (REL) and AAA Project will directly or indirectly own about 45 per cent equity in RPL.
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