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    ED Files Chargesheet Against Reliance Power and Subsidiaries in Alleged Fake Bank Guarantee Case

    5 months ago

    The Enforcement Directorate (ED) on Saturday filed a supplementary prosecution complaint in connection with alleged fake bank guarantees submitted by Reliance Power Limited to the Solar Energy Corporation of India (SECI) for securing a tender.

    The complaint names several individuals, including Partha Sarathi Biswal, Managing Director of Biswal Tradelink Private Limited; Amar Nath Dutta of Biothane Chemicals; Ravinder Pal Singh Chadha of Reliance NU BESS; Manoj Bhaiyasaheb Pongde of Rosa Power Supply Company; former Reliance Power Chief Financial Officer Ashok Kumar Pal; and Punit Narendra Garg.

     

    According to the agency, the alleged bogus guarantees were used by the company, part of Anil Ambani’s Reliance Group, during the bidding process for a SECI tender.

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