India, Nov. 7 -- The Enforcement Directorate (ED) has made a third arrest in the ongoing money laundering probe linked to a Rs.68-crore fake bank guarantee issued on behalf of Anil Ambani's Reliance Power, official sources said on Friday.

The latest accused, identified as Amar Nath Dutta, was taken into custody on Thursday under the Prevention of Money Laundering Act (PMLA). He has been remanded to four days of ED custody by a special court.

Earlier, the agency had arrested Ashok Kumar Pal, former Chief Financial Officer (CFO) of Reliance Power, and Partha Sarathi Biswal, Managing Director of Odisha-based Biswal Tradelink, in connection with the same case.

According to investigators, the case revolves around a fake bank guarantee worth...