fake bank guarantee
ED Arrests Kolkata Consultant in Rs 68 Crore Reliance Power Fake Bank Guarantee Case
Nov 07, 2025 04:32 pm CST
The Enforcement Directorate has arrested Kolkata-based consultant Amar Nath Dutta for his alleged role in a Rs 68 crore fake bank guarantee scheme connected to Anil Ambani's Reliance Power. The fraud involved spoofed email domains and forged documents that caused over Rs 100 crore in losses to Solar Energy Corporation of India.
Reliance Power CFO Arrested by ED in Rs 68 Crore Bank Guarantee Fraud Investigation
Oct 16, 2025 08:05 pm CST
The Enforcement Directorate has arrested Ashok Kumar Pal, Executive Director and CFO of Reliance Power Limited, in connection with an alleged Rs 68 crore fake bank guarantee case. Pal has been placed in judicial custody following extensive questioning, with Reliance Power claiming to be a victim of third-party fraud while distancing Anil Ambani from the matter. The arrest follows broader ED investigations into Reliance Group companies.
Reliance Power CFO Arrested: ED Detains Anil Ambani's Aide in Rs 68 Crore Bank Guarantee Fraud Case
Oct 11, 2025 01:55 pm CST
The Enforcement Directorate has arrested Ashok Kumar Pal, CFO of Reliance Power and aide to Anil Ambani, for alleged money laundering involving fake bank guarantees worth Rs 68 crore submitted to a government energy corporation. The case connects to broader investigations into the Ambani group concerning potential loan diversions exceeding Rs 17,000 crore across multiple companies, with authorities uncovering sophisticated fraud techniques including spoofed banking domains and shell companies.