Archive · 3 Aug 2025
ED Arrests Biswal in Fake Bank Guarantee Case, Summons Anil Ambani
Authorities arrested Partha Sarathi Biswal, the head of Biswal Tradelink, for allegedly creating a fake bank guarantee.
This is part of a probe into a large loan fraud involving Anil Ambani's companies.
Biswal's company is accused of receiving money from Reliance Power for providing the fake guarantee.
Investigators found fake documents, including forged SBI endorsements and fake email IDs.
Undisclosed bank accounts and violations of the Companies Act are also part of the investigation.
Anil Ambani has been summoned for questioning.
The Enforcement Directorate (ED) arrested Partha Sarathi Biswal, MD of Biswal Tradelink, in a fake bank guarantee case.
Biswal Tradelink allegedly provided a fake bank guarantee of ₹68.2 crore for a SECI tender.
Reliance Power Limited paid Biswal Tradelink ₹5.40 crore for the fraudulent guarantee.
Anil Ambani has been summoned for questioning and a lookout circular has been issued.
The ED investigation involves a multi-crore bank loan fraud.
- Who
- The Enforcement Directorate arrested Partha Sarathi Biswal and summoned Anil Ambani.
- What
- The Enforcement Directorate (ED) arrested Partha Sarathi Biswal, MD of Biswal Tradelink, in a fake bank guarantee case.
- When
- Biswal was arrested on August 1 and Anil Ambani was summoned on August 5.
- Where
- The investigation involves financial dealings in India.
- Why
- The arrest is related to providing a fake bank guarantee and potential money laundering.
Authorities
Reliance Power
Focus of the Investigation
Authorities
Authorities are investigating the alleged fraud and money laundering.
Reliance Power
Reliance Power stated they acted in good faith and were victims of fraud.
- Agency
- Enforcement Directorate (ED)
- Person Arrested
- Partha Sarathi Biswal
- Company of Arrested
- Biswal Tradelink
- Alleged Fraud
- Fake bank guarantee
- Amount from Reliance Power
- ₹5.40 crore
- Summoned
- Anil Ambani
- Undisclosed Accounts
- 7
Sources
First Arrest Made In Ongoing Probe Into Anil Ambani Group Companies
ED arrests MD of Odisha-based company in ‘fake’ bank guarantee racket case
ED Issues Lookout Circular Against Anil Ambani, Widens Scope Of Probe
In Rs 3,000-Crore Anil Ambani Loan Fraud Case, Probe Agency Makes 1st Arrest
ED arrests MD of Odisha based company in 'fake' bank guarantee racket case
Forged SBI emails, fake bank guarantees: ED makes first arrest in Rs 3,000 crore Reliance Group loan fraud case
First arrest in loan case linked to Anil Ambani: Biswal Tradelink MD in ED custody
ED arrests Biswal Tradelink’s MD in fake bank guarantee case, to confront him with Anil Ambani
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