5 months ago
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The Directorate of Enforcement (ED) connected Saturday (December 6, 2025) filed a supplementary prosecution ailment successful the lawsuit of alleged fake slope guarantees submitted by Anil Ambani's radical institution Reliance Power Limited to Solar Energy Corporation of India (SECI) for the intent of securing a tender issued by SECI.
Among those named are Biswal Tradelink Private Limited managing manager (MD) Partha Sarathi Biswal, Biothane Chemicals’ Amar Nath Dutta, Reliance NU BESS’ Ravinder Pal Singh Chadha, Rosa Power Supply Company’s Manoj Bhaiyasaheb Pongde, past Chief Finance Officer (CFO) of Reliance Power Limited Ashok Kumar Pal, and Punit Narendra Garg, said bureau officials.
The wealth laundering lawsuit stems from a November 2024 FIR of Delhi Police's Economic Offences Wing (EOW). In this case, the bureau initiated an probe against Reliance NU BESS Limited (a 100% subsidiary of Reliance Power Limited) based connected a ailment filed by SECI, and different FIR filed by Reliance NU BESS Limited against Biswal Tradelink Private Limited and its managing director, Partha Sarathi Biswal, said an official.
Reliance Power Limited (through its subsidiary Reliance NU BESS Limited) submitted a bid for a tender issued by SECI for mounting up 1000 MW / 2000 MWh standalone BESS projects nether tariff-based competitory bidding.
“The bidder was required to taxable a Bank Guarantee of Rs.68.2 crore on with the bid documents. As per the tender conditions, if the Bank Guarantee is issued by a overseas bank, past it requires endorsement of the aforesaid from an Indian subdivision of that overseas slope oregon from the State Bank of India (SBI),” the bureau said.
According to the agency, Reliance Power Limited, with a “mala fide intent”, hired the services of a ammunition entity, Biswal Tradelink, to put a fake Bank Guarantee from FirstRand Bank, Manila, Philippines, which is simply a non-existent branch, and from ACE Investment Bank Limited, Malaysia.
“Further, endorsements of the fake Bank Guarantees were done by utilizing a spoofed email ID of SBI and forged endorsement letters purportedly issued by SBI. A fraudulent domain, s-bi.co.in (a look-alike of sbi.co.in), was utilized for the said purpose....Reliance Power Limited routed funds of Rs.6.33 crore from its different subsidiary, Rosa Power Supply Company Limited, to the ammunition entity Biswal Tradelink Private Limited nether the guise of bogus proscription services, successful bid to conscionable the required backing for arranging the fake Bank Guarantee,” arsenic alleged.
A fake enactment bid and fake invoices were allegedly executed “in collusion with the accomplice” Partha Sarathi Biswal. After the statement of the fraudulent Bank Guarantee Rs. 5.40 crore was paid to the ammunition entity to “depict the full statement arsenic a genuine commercialized transaction”.
The bureau has besides alleged that the Group officials were good alert that a fake Bank Guarantee and its “fraudulent” endorsements were being submitted to SECI from a spoofed email ID of SBI and, erstwhile SECI detected the “fraud”, the Group arranged a genuine Bank Guarantee from IDBI Bank wrong a time of intimation of the fraud by SECI.
However, SECI refused to judge the caller Bank Guarantee. “Since Reliance NU BESS Limited had emerged arsenic the L-2 bidder, successful bid to prevention the tender, Reliance Group officials adjacent tried to put a caller endorsement of the fake overseas Bank Guarantee from an SBI subdivision successful Kolkata,” it has alleged.
