ED arrests executive of Anil Ambani’s Reliance Group in fake bank guarantee-linked PMLA case

The Enforcement Directorate (ED) arrested Ashok Pal, Chief Financial Officer (CFO) of Reliance Power, connected Friday (October 10, 2025) nighttime aft questioning astatine Delhi bureau successful a lawsuit of alleged fake slope warrant of ₹68 crore. He volition beryllium produced earlier justice astatine 9.30 a.m., said ED source

Mr. Pal is the Chief Financial Officer of Reliance Power Limited (RPL), a listed institution successful which nationalist holds much than 75% shares.

The accused played a important relation successful “diversion of funds” from a nationalist listed company, the bureau has alleged.

The company’s committee solution had empowered him and others to finalise, approve, sign, and execute each documents for Solar Energy Corporation of India’s Battery Energy Storage System tenders, and to usage RPL’s fiscal capableness for the bid, it alleged.

The ED has alleged that helium played a important relation successful submitting “bogus” Bank Guarantee (BG) of implicit ₹68 crore to SECI, with an volition to cheat. “He played a important relation successful the planning, supervision, funding, and concealment of the forged BG strategy utilized successful the SECI tender,” said an bureau source.

The accused was instrumental successful selecting Biswal Tradelink Pvt. Ltd. to supply the fake BG, according to the ED. BTPL is simply a tiny entity operating from a residential code with nary credible BG way record. Without vendor diligence, a “non-genuine” BG was executed, the root alleged.

BTPL director, Partha Sarathi Biswal, is already successful judicial custody. He was allegedly progressive successful the diversion of wealth done “fake transport invoices”. “He approved releases and facilitated paperwork via Telegram/WhatsApp, extracurricular mean SAP/vendor maestro workflow. The grade of fraud tin beryllium gauged from the information that the Reliance Power radical submitted a BG from FirstRand Bank, Manila, Philippines...there exists nary subdivision of FirstRand Bank successful the Philippines,” the root said.

The ED has purportedly recovered that Mr. Biswal played “a important part” successful taking the services of a fake BG racket which utilized fake and spoofed domains of Indian commercialized banks of India.

“The fake BG racket utilized by Mr. Ashok Pal besides uses lookalike slope domains specified arsenic lndianbank.in, lndusindbank.in, pnblndia.in, psdbank.co.in, siliguripnb.co.in, Iobbank.co.in and unionbankoflndia.co.in, each employing single-character swaps (notably ‘l’ successful spot of ‘i’) oregon insignificant textual tweaks intended to visually walk arsenic official. The sole inferior of these domains is to impersonate banks successful emails/letters, thereby projecting forged instruments arsenic genuine,” said the source.