ED files another charge sheet in PMLA case against Reliance Power
New Delhi, Dec. 7 -- The Enforcement Directorate (ED) on Saturday filed a supplementary charge sheet against Reliance Power Limited and 10 others in a money laundering case linked to issuance of an alleged fake bank guarantee of Rs.68 crore for securing a tender.
Besides Reliance Power (linked to Anil Ambani led Reliance Group), others charged by ED are former Reliance Power CFO Ashok Kumar Pal, Reliance NU BESS Ltd and Rosa Power Supply Company Ltd (subsidiaries of Reliance Power), Reliance Group executive Punit Narendra Garg, Odisha-based Biswal Tradelink Private Limited, its MD Patha Sarathi Biswal, and trade financing consultant Amar Nath Dutta.
The case pertains to a bank guarantee of Rs.68.2 crore submitted to secure a tender from the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power. "Fraudulent endorsements were being submitted to SECI from a spoofed email ID of SBI and when SECI detected the fraud, Reliance Group arranged a genuine Bank Guarantee from IDBI Bank within a day... However, SECI refused to accept the fresh Bank Guarantee as it was submitted after the due date," ED alleged.
Reliance Power said that the company, its subsidiaries and employees "are victims of a fraud, forgery, cheating and conspiracy committed by the third parties."...
To read the full article or to get the complete feed from this publication, please
Contact Us.