Overview

• A Delhi court granted the Enforcement Directorate two days to question Ashok Kumar Pal after his late‑night arrest in the capital, with production due at Patiala House on Monday.
• Reliance Power said Pal has resigned as executive director and CFO and reiterated it had filed a 2024 police complaint, asserting the company was a victim of fraud.
• The ED alleges Pal selected Odisha‑based Biswal Tradelink to arrange the bogus guarantee, approved payments on fake invoices, and handled paperwork over Telegram and WhatsApp outside normal systems.
• Probes indicate the scheme spoofed bank emails using domains such as s-bi.co.in and referenced a FirstRand Bank branch in Manila that does not exist.
• The money‑laundering case stems from a November 2024 Delhi Police EOW FIR, links to earlier ED searches and the arrest of BTPL’s director, and forms part of broader inquiries into ADA Group financing that include Yes Bank loans.