New Delhi, Oct. 11 -- The Enforcement Directorate (ED) has arrested Ashok Kumar Pal, Chief Financial Officer (CFO) of Reliance Power Limited (RPL), in connection with a case involving a fake bank guarantee and forged invoicing, allegedly linked to fund diversion.

According to officials, Pal was taken into custody late on Friday night after several hours of questioning at the agency's Delhi office.

According to sources, Pal, as the CFO of Reliance Power--a publicly listed company in which the public holds more than 75 per cent of the shares-- allegedly played a "crucial role" in the diversion of company funds and the submission of forged financial documents.

The investigation pertains to a fraudulent Bank Guarantee (BG) of over Rs 68 cr...