Overview
- Enforcement Directorate arrested consultant Amar Nath Dutta under the PMLA, calling it the third arrest in the investigation linked to a Reliance Power subsidiary.
- The case centers on an allegedly fake bank guarantee of about Rs 68 crore submitted by Reliance NU BESS to SECI, with forged endorsements and fake SFMS confirmations cited by investigators.
- The ED has alleged SECI suffered losses exceeding Rs 100 crore and says its probe continues into beneficiaries, fund flows, and related assets.
- Earlier arrests included former Reliance Power CFO Ashok Kumar Pal and Partha Sarathi Biswal, managing director of Biswal Tradelink, which investigators describe as a shell entity.
- Reliance Power told stock exchanges that Dutta has no connection to the company, described itself and its subsidiary as victims of fraud, and noted Anil Ambani is off its board even as he has been summoned for questioning.