Overview
- The prosecution complaint filed at Patiala House names Reliance Power, subsidiaries Reliance NU BESS and Rosa Power, shell firm Biswal Tradelink, Biothane Chemicals, and executives including former CFO Ashok Kumar Pal.
- ED alleges the guarantees were fabricated using a non‑existent FirstRand Bank Manila branch and ACE Investment Bank Malaysia, with forged SBI endorsements sent via a spoofed domain s-bi.co.in.
- Investigators say Rs 6.33 crore was routed from Rosa Power to Biswal Tradelink through bogus transport invoices, with a Rs 5.40 crore fee paid to portray the arrangement as legitimate.
- After SECI flagged the guarantee, Reliance obtained a genuine IDBI Bank guarantee that was rejected as late, and officials allegedly pursued fresh endorsements using a dummy agreement and bogus Kolkata municipal documents.
- The agency reports attaching about Rs 5.15 crore as proceeds of crime and notes key accused are in judicial custody, while Reliance Power asserts it was a victim of third‑party fraud and says Anil Ambani is not on its board.