Reliance Power fraud: ED makes third arrest in SECI scam
text_fields
New Delhi: The Enforcement Directorate (ED) has made its third arrest in the bogus bank guarantee case involving Reliance Power Limited, detaining Amar Nath Dutta in connection with the alleged financial fraud.
The arrest follows earlier action against Ashok Pal, former Chief Financial Officer of Reliance Power, and Partha Sarathi Biswal, Managing Director of Biswal Tradelink Pvt. Ltd. All three are accused of conspiring to forge bank guarantees and endorsements to manipulate tenders issued by the Solar Energy Corporation of India Limited (SECI).
According to the ED, the forged documents, including Structured Financial Messaging System (SFMS) confirmations, were submitted to SECI, resulting in losses exceeding ₹100 crore to the public sector enterprise.
Pal, described as a close aide of industrialist Anil Ambani, was arrested on 11 October under money laundering charges. He allegedly diverted company funds and submitted fake guarantees worth over ₹68 crore to SECI. Following his arrest, Pal resigned as CFO of Reliance Power and remains in judicial custody.
The ED claims Pal attended meetings in Kolkata with Biswal, Dutta, Shiv Sankar Das and others, where plans for fresh forged endorsements were discussed.
The agency’s investigation stems from a Central Bureau of Investigation (CBI) FIR linked to financial irregularities involving Yes Bank and various entities of the Anil Dhirubhai Ambani (ADA) Group.
A Delhi court later dismissed a petition challenging Pal’s arrest, with Patiala House Court upholding the ED’s action.
Meanwhile, the ED has summoned ADA Group Chairman Anil Ambani for further questioning on 14 November in the ongoing money laundering probe.
The arrest of Dutta comes days after the ED provisionally attached over 132 acres of land worth ₹4,462.81 crore in Dhirubhai Ambani Knowledge City, Navi Mumbai, under the Prevention of Money Laundering Act.
Previously, the agency had attached 42 properties valued at over ₹3,083 crore in bank fraud cases involving Reliance Communications Ltd., Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd.
A local court has granted the ED four-day custody of Dutta for further interrogation.
(Inputs from IANS)