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Chargesheet Against Reliance Power: After the ED’s chargesheet against Reliance Power as well as many companies, many shocking claims have come to light. You also know.
06 December, 2025
Chargesheet Against Reliance Power: In a high-profile case related to big companies of the country, the Enforcement Directorate (ED) on Saturday took a big step in the fake bank guarantee case against Reliance Power Limited, its two subsidiary companies and a total of 10 accused. This case started with a fake bank guarantee of Rs 68 crore, which was deposited to secure the tender of Solar Energy Corporation of India (SECI).
What is the matter after all?
According to ED, to win the tender, a bank guarantee of Rs 68.2 crore was given to SECI by Reliance NU BESS Limited (ex-name Maharashtra Energy Generation Limited). Investigation revealed that this guarantee was not genuine. According to the agency, Reliance Group officials knew that this guarantee was fake, but despite this, fake endorsements were being sent from spoofed SBI email IDs. When SECI caught the fraud, Reliance Group got the original bank guarantee prepared from IDBI Bank within a day. However, this was also submitted after the time limit was over, hence SECI did not approve it.
list of accused
The name of ex-CFO Ashok Kumar Pal is included in the charge sheet. Along with this, the names of Reliance NU, BESS and Rosa Power Supply Company, Odisha’s shell company Biswal Tradelink Private Limited and its MD Partha Sarathi Biswal are also included. At the same time, charge sheet has been made against Amar Nath Dutta (Trade Finance Consultant), Ravinder Pal Singh Chadha, Manoj Bhaiyasaheb Pongde and Punit Narendra Garg. ED has filed this charge sheet in Patiala House Court of Delhi under PMLA (Prevention of Money Laundering Act).
What all came to light?
The agency claims that Reliance Group officials prepared a dummy agreement. He got the Certificate of Enlistment made from Kolkata Municipal Corporation by giving a fake address and took the service of shell company Biswal Tradelink for fake foreign bank guarantee. Apart from this, investigation also revealed that fake guarantees of non-existent Frustrated Bank of Philippines and ACE Investment Bank Limited of Malaysia were made. Apart from this, a fake domain named s-bi.co.in was used to send fake emails in the name of SBI. Reliance Power sent Rs 6.33 crore from one of its subsidiaries Rosa Power to Biswal Tradelink in the name of fake transportation services. An attempt was made to make the entire setup look like a business transaction by giving fake invoices, fake work orders and paying huge fees (Rs 5.40 crore).
Reliance’s side
Reliance Group has said that Anil Ambani has not been on the board of Reliance Power for the last 3.5 years. In such a situation, he has nothing to do with this matter. The company claims that it itself is a victim of this fraud. By the way, ED has so far attached properties worth Rs 5.15 crore in this case. Several accused, including the former CFO and MD of Biswal Tradelink, are in judicial custody. Well, this case related to Reliance Power has become one of the most talked about investigations in the corporate world. As the ED investigation is progressing, many new shocking revelations are being made.
