Reliance Power Limited on Saturday issued a clarification following the Enforcement Directorate’s arrest of Amar Nath Dutta in connection with a fake bank guarantee case. The company said Dutta has “no connection whatsoever” with Reliance Power or any of its subsidiaries and that the development has “no impact on the company’s business operations, financial performance, or stakeholders.”
The ED on Thursday arrested Dutta, who it alleged played an “active role” in arranging and submitting forged bank guarantees worth over ₹68 crore to help a Reliance Power subsidiary qualify for a Solar Energy Corporation of India (SECI) tender.
According to the agency, Dutta, a Kolkata-based consultant claiming to offer trade finance services, worked in coordination with Ashok Pa l, the company’s former chief financial officer, and Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink Pvt Ltd, who were arrested earlier in the same case.
Dutta was produced before a Delhi court and remanded to four days of ED custody. The agency said it is probing multiple angles, including tracing the proceeds of crime, identifying beneficiaries, and examining the wider conspiracy involving other entities and individuals.
Meanwhile, in its statement, Reliance Power further reiterated that it and its subsidiary, Reliance NU BESS Limited, along with their employees, are “victims of fraud, forgery, and a cheating conspiracy.”
The company also strongly objected to media reports that linked its promoter, Anil D Ambani, to the matter, clarifying that he “has not been on the board of Reliance Power for more than three and a half years and is in no way connected with this case.”
The ED on Thursday arrested Dutta, who it alleged played an “active role” in arranging and submitting forged bank guarantees worth over ₹68 crore to help a Reliance Power subsidiary qualify for a Solar Energy Corporation of India (SECI) tender.
According to the agency, Dutta, a Kolkata-based consultant claiming to offer trade finance services, worked in coordination with Ashok Pa l, the company’s former chief financial officer, and Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink Pvt Ltd, who were arrested earlier in the same case.
Dutta was produced before a Delhi court and remanded to four days of ED custody. The agency said it is probing multiple angles, including tracing the proceeds of crime, identifying beneficiaries, and examining the wider conspiracy involving other entities and individuals.
Meanwhile, in its statement, Reliance Power further reiterated that it and its subsidiary, Reliance NU BESS Limited, along with their employees, are “victims of fraud, forgery, and a cheating conspiracy.”
The company also strongly objected to media reports that linked its promoter, Anil D Ambani, to the matter, clarifying that he “has not been on the board of Reliance Power for more than three and a half years and is in no way connected with this case.”
You may also like
Navy Day 2025: Spectacular operational show to mark India's growing maritime power on Dec 4
People urged to put cardboard in gardens before winter
The Supreme Court reprimanded Mohammed Shami's wife, leaving Hasin Jahan in deep trouble
JD Vance hopes his Hindu wife converts to Christianity, sparking debate on interfaith marriage
Gujarat CM to launch state-wide padyatra from Junagadh
