Reliance Power on Saturday issued a statement following the arrest of its executive director and chief financial officer (CFO) Ashok Kumar Pal. In the statement, the company -- part of the Reliance Group -- said that Anil Ambani had not been on its Board for more than three years and that he was not concerned with the matter in any manner. Reliance Power further said it would take appropriate steps in the case "as legally advised." Pal was arrested by the Enforcement Directorate (ED) on Friday night in connection with a loan fraud case.

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