According to ED, Reliance Power, with mala fide intent, engaged Biswal Tradelink to arrange fake bank guarantees purportedly issued by FirstRand Bank, Manila (a non-existent branch) and ACE Investment Bank, Malaysia (Image: Pexels) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Directorate of Enforcement has filed a supplementary prosecution complaint against Reliance Power Limited in connection with fake bank guarantees submitted to Solar Energy Corporation of India for securing a tender. The agency has also attached proceeds of crime worth Rs 5.15 crore in the case.

The investigation stems from FIRs registered by the Economic Offences Wing (EOW), Delhi, based on complaints from SECI and Reliance NU BESS Ltd., a 100% subsidiary of Reliance Power, against Biswal Tra

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