Archive · 7 Dec 2025
ED Files Chargesheet in Reliance Fake Bank Case
The Enforcement Directorate (ED) has filed a chargesheet against Reliance Power Ltd.
and 10 others in a case involving an alleged fake bank guarantee of Rs 68.2 crore.
The case is related to a tender for a solar energy project.
The ED claims that Reliance Power officials were aware of the fake bank guarantee and tried to cover it up.
They also allege that Reliance Power hired a shell company to arrange the fake guarantee.
The ED has attached assets worth Rs 5.15 crore as part of the investigation.
Reliance Group has denied the allegations, claiming they were victims of a fraud conspiracy.
The Enforcement Directorate (ED) filed a chargesheet against Reliance Power Ltd. and 10 others in a money laundering case involving an alleged fake bank guarantee of Rs 68.2 crore.
The case involves a tender for 1000 MW/2000 MWh standalone BESS projects under tariff-based competitive bidding from the Solar Energy Corporation of India Limited (SECI).
The ED claims Reliance Power officials were aware of the fake guarantee and attempted to cover it up by arranging a genuine bank guarantee from IDBI Bank after SECI detected the fraud.
The ED has attached assets worth Rs 5.15 crore as part of the investigation.
Reliance Group denies the allegations, claiming to be victims of a fraud, forgery, and cheating conspiracy, and has made disclosures to the stock exchange.
- Who
- Reliance Group companies, including Reliance Power Ltd., Reliance NU BESS Ltd, Rosa Power Supply Company Ltd., and their executives and associates
- What
- Filing of a chargesheet in a money laundering case linked to an alleged fake bank guarantee and attachment of assets worth Rs 5.15 crore
- When
- Chargesheet filed on Saturday, case originates from FIRs by Delhi Police's EOW
- Where
- Patiala House court in Delhi, properties in Mumbai and Chennai
- Why
- Allegations of submitting a fake bank guarantee to secure a tender from SECI and involvement in an alleged fraud at Yes Bank
- Companies Involved
- Reliance Power Ltd., Reliance NU BESS Ltd, Rosa Power Supply Company Ltd., Biswal Tradelink Private Limited, Biothane Chemicals Pvt. Ltd.
- Accused Individuals
- Ashok Kumar Pal, Partha Sarathi Biswal, Amar Nath Dutta, Ravinder Pal Singh Chadha, Manoj Bhaiyasaheb Pongde, Punit Narendra Garg
- Amount Involved
- Rs 68.2 crore (fake bank guarantee), Rs 5.15 crore (attached assets), Rs 6.33 crore (funds routed), Rs 5.40 crore (fee paid)
- Legal Action
- Chargesheet filed under PMLA, assets attached under PMLA
- Assets Attached
- Proceeds of crime worth Rs 5.15 crore
- Case Origin
- FIRs by Delhi Police's EOW
- Tender Details
- 1000 MW/2000 MWh standalone BESS projects under tariff-based competitive bidding
- Reliance Group's Response
- Claimed to be a victim of fraud, forgery, and cheating conspiracy, made disclosures to the stock exchange
Sources
ED Files Chargesheet Against Reliance Power in Fake Bank Guarantee Case
ED files chargesheet against Reliance Power, subsidiaries in 'fake' bank guarantee case
ED files chargesheet against Reliance Power, subsidiaries in ‘fake’ bank guarantee case
ED attaches fresh assets of Reliance Group, total value at 10K cr
ED files chargesheet against Reliance Power, 10 others in fake bank guarantee case
Reliance Power, company executives named in ED chargesheet over alleged fake bank guarantee
ED Attaches Assets Worth Rs 1120 Crore Of Anil Ambani Group Cos, Latter Responds
Ranya Rao Gold Smuggling Case to Illegal Betting App Case: Five Big 'Scams' That Rocked India in 2025
ED Files Supplementary Chargesheet, Tightens Noose Around Reliance Power Over ₹68.2 Crore Fake Bank Guarantee
ED files chargesheet against Reliance Power, 10 others in Rs 68 crore ‘fake bank guarantee’ case
