Archive · 7 Nov 2025
ED Arrests Third Person in Reliance Power Fake Guarantee Case
Government investigators, called the ED, have arrested a third person in a case involving a fake financial promise, called a bank guarantee, worth over 68 crore rupees for a company called Reliance Power.
The fake guarantee was given to another company, SECI, for a project.
The ED believes this was part of money laundering.
The latest person arrested is Amar Nath Dutta, who the ED says helped arrange fake guarantees with two others previously arrested, including a former finance chief of Reliance Power.
Reliance Power says they were tricked and are victims of a scam.
The investigation is looking into how public money might have been wrongly used.
Reliance Power has stated that Anil Ambani, the group's chairman, is not connected to this specific issue.
The Enforcement Directorate (ED) arrested Amar Nath Dutta, the third individual in a money laundering probe concerning Reliance Power.
The case involves an alleged fraudulent bank guarantee of over ₹68 crore submitted to SECI on behalf of Reliance Power subsidiary Reliance NU BESS Limited.
Previously arrested individuals include former Reliance Power CFO Ashok Kumar Pal and Partha Sarathi Biswal, MD of Biswal Tradelink, accused of arranging fake guarantees.
Reliance Power claims it is a victim of fraud and forgery and has reported the matter to stock exchanges.
Anil Ambani has been summoned for questioning in a related money laundering case, with Reliance stating he is unconnected to this specific matter.
- Who
- Enforcement Directorate (ED), Amar Nath Dutta, Ashok Kumar Pal (former Reliance Power CFO), Partha Sarathi Biswal (MD of Biswal Tradelink Pvt Ltd), Reliance Power, Reliance NU BESS Limited, Solar Energy Corporation of India Ltd (SECI), Anil Ambani
- What
- The ED arrested Amar Nath Dutta, the third person in a money laundering probe related to an alleged fraudulent bank guarantee of over ₹68 crore submitted to SECI on behalf of Reliance Power's subsidiary.
- When
- Amar Nath Dutta arrested on Thursday (prior to Nov 7, 2025 publication); Dutta remanded to ED custody till November 10; Case stems from a November 2024 FIR; Reliance Power disclosed issue on November 7, 2024.
- Where
- Investigation involves Reliance Power (Anil Dhirubhai Ambani Group company), Reliance NU BESS Limited, and SECI. Arrest and investigation are linked to a Delhi Police FIR. Dutta is based in Kolkata.
- Why
- The probe is into alleged money laundering involving a fraudulent bank guarantee submitted to SECI for a tender, with allegations of fake guarantees arranged by Biswal Tradelink and funds received from Reliance Power. The ED is investigating the illegal diversion of public money by ADA group companies.
Reliance Power's Position
Enforcement Directorate (ED) Allegations
Company's Role and Victim Status
Reliance Power's Position
Reliance Power claims it is a victim of fraud, forgery, and a cheating conspiracy. The company lodged a criminal complaint and disclosed the matter to stock exchanges.
Enforcement Directorate (ED) Allegations
The ED alleges Reliance Power subsidiary Reliance NU BESS Limited submitted a fraudulent bank guarantee, and that funds were received by Biswal Tradelink for arranging these guarantees.
Anil Ambani's Involvement
Reliance Power's Position
A Reliance Group spokesperson stated Anil Ambani has not been on Reliance Power's board for over three and a half years and is unconnected to the matter.
Enforcement Directorate (ED) Allegations
The arrest is part of a money laundering investigation involving Reliance Power, an Anil Dhirubhai Ambani (ADA) Group company, and Anil Ambani has been summoned for questioning in a related case.
- Third Arrestee
- Amar Nath Dutta (Kolkata-based consultant)
- Previous Arrests
- Ashok Kumar Pal (former Reliance Power CFO), Partha Sarathi Biswal (MD of Biswal Tradelink Pvt Ltd)
- Investigating Agency
- Enforcement Directorate (ED)
- Legislation
- Prevention of Money Laundering Act (PMLA)
- Alleged Fraudulent Guarantee Amount
- ₹68.2 crore
- Subsidiary Involved
- Reliance NU BESS Limited
- Recipient of Guarantee
- Solar Energy Corporation of India Ltd (SECI)
- Case Origin FIR
- November 2024 FIR by Delhi Police's Economic Offences Wing (EOW)
Sources
ED summons Anil Ambani
ED makes third arrest in Reliance Power 'fake' bank guarantee linked PMLA case
Weeks after nabbing CFO of Reliance Power, ED makes another arrest in Rs 68 crore bank loan ‘fraud’ case
ED summons Anil Ambani over FEMA probe into Rs 600 crore hawala transfers
ED makes third arrest in Reliance Power fake bank guarantee case linked to Rs 68 crore fraud
ED makes third arrest in money laundering probe involving Reliance ADA group firm
