ED Arrests Kolkata Consultant in Rs 68 Crore Reliance Power Fake Bank Guarantee Case

The probe is targeting businessman Anil Ambani's group company Reliance Power.

The Enforcement Directorate (ED) has arrested a Kolkata-based consultant in relation to a money laundering investigation against businessman Anil Ambani's group company Reliance Power regarding the issuance of an allegedly fraudulent bank guarantee of Rs 68 crore.

According to the investigation agency, Amar Nath Dutta was taken into custody under provisions of the Prevention of Money Laundering Act (PMLA) on Thursday. The ED stated that Dutta played a significant role in arranging forged bank guarantees alongside former Reliance Power CFO Ashok Kumar Pal and Partha Sarathi Biswal, the Managing Director of Odisha-based Biswal Tradelink, both of whom were previously arrested.

The investigation concerns a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a Reliance Power subsidiary, which was determined to be "fake." The company was previously known as Maharashtra Energy Generation Limited.

SECI, a public sector undertaking under the Ministry of New and Renewable Energy, experienced a loss exceeding ₹100 crore due to the fraudulent submission of bank guarantees by the Reliance Power subsidiary.

The ED's investigation has revealed that counterfeit State Bank of India endorsements were created using a spoofed email domain - sbi.17313@s-bi.co.in - to deceive SECI into accepting the fabricated bank guarantees as authentic.

The investigation agency also identified numerous spoofed domains resembling those of major commercial banks including lndiabank.in, lndusindbank.in, pnblndia.in, psdbank.co.in, siliguripnb.co.in, lobbank.co.in, and unionbankofIndia.co.in - all designed with subtle textual variations to mislead recipients.

Dutta appeared before the Additional Sessions Judge at Patiala House Courts on Thursday and was remanded in ED custody for four days, until November 10, 2025.

The ED continues its investigation to identify beneficiaries of the proceeds of crime, trace the destination of funds, locate assets acquired through illicit gains, and uncover the broader conspiracy involving additional persons and entities.