Overview
- ED arrested Kolkata consultant Amar Nath Dutta and a special court sent him to four days of custody in the money-laundering case.
- Reliance Power told stock exchanges that Dutta has no connection to the company, said operations are unaffected, and described the firm and its subsidiary as victims of fraud.
- The case concerns a Reliance NU BESS guarantee to SECI that ED says carried forged endorsements and fake SFMS confirmations, with SECI alleging losses exceeding Rs 100 crore.
- Earlier arrests in the probe include former Reliance Power CFO Ashok Kumar Pal and Biswal Tradelink MD Partha Sarathi Biswal, with ED citing shell entities and spoofed emails after searches in Bhubaneswar and Kolkata.
- Reliance Power shares rose about 7.8% after the clarification, as ED continues wider actions that include asset attachments topping Rs 7,500 crore and a scheduled Nov 14 questioning of Anil Ambani in related investigations.