ED makes 3rd arrest in Reliance Power 'fake' bank guarantee linked PMLA case
New Delhi (PTI): The Enforcement Directorate has made a fresh and the third arrest in connection with a money laundering probe against businessman Anil Ambani's group company Reliance Power linked to issuance of an alleged fake bank guarantee of Rs 68 crore, official sources said on Friday.
A person identified as Amar Nath Dutta was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). A special court sent him to four days of the Enforcement Directorate (ED) custody, they said.
The federal probe agency has arrested former Reliance Power CFO Ashok Kumar Pal and a private person Partha Sarathi Biswal, MD of an Odisha-based company named Biswal Tradelink, as part of this investigation.
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake". The company was formerly known as Maharashtra Energy Generation Limited.
Biswal Tradelink, the ED had alleged, operated a racket for providing "fake" bank guarantees for business groups.
The Reliance Group had earlier said Anil Ambani was "not on the Board of Reliance Power Limited for more than 3.5 years and is not concerned with this matter in any manner."
The money laundering case stems from a November 2024 FIR of Delhi Police's Economic Offences Wing (EOW). It was alleged that the Biswal Tradelink was engaged in issuing "fake" bank guarantees against a commission of 8 per cent.
Probe found that Reliance NU BESS Ltd. submitted a bank guarantee from the FirstRand Bank located in Manila, Philippines, but the said bank does not have a branch in that country, as per the ED.
Reliance Power had said earlier that it had been a "victim of fraud, forgery and cheating conspiracy" in this case and it had made due disclosures in this context to the stock exchange on November 7, 2024.
A group spokesperson had said a criminal complaint was lodged by them against the third party (accused company) with Delhi Police's EOW in October 2024 and the "due process" of law would follow.
The ED sources had said that the Bhubaneswar-based company (Biswal Tradelink) was using an email domain -- s-bi.co.in -- similar to sbi.co.in to create a "facade" of genuineness that the communication was being sent by the State Bank of India (SBI), the country's largest lender.
The fake domain was used to send "forged" communication to the SECI, they said. Biswal Tradelink, according to the ED, was a "mere paper entity" as its registered office was a residential property belonging to a relative of Biswal.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
T'gana BC panel seeks reports over infant's death, family alleges caste abuse
Hyderabad (PTI): The Telangana Commission for Backward Classes on Monday sought reports from state government officials on the death of an infant following alleged assault and caste abuse against her family members in Nagarkurnool district while visiting a temple fair.
In separate letters, Commission Chairman G Niranjan urged Endowments Department Commissioner S Harish and Nagarkurnool district Collector Badavath Santhosh to furnish the reports within three days.
Niranjan drew the officials' attention to media reports on the death of the two-month-old baby at Kummera village in the district and alleged caste discrimination and denial of entry to the temple fair to the baby's family belonging to a BC community.
BJP OBC Morcha's state unit president G Anand Goud alleged inadequate response by the police in the incident and demanded a transparent investigation into the incident.
Alleging that the deceased baby's father was attacked in the incident, he also demanded action against the attackers.
Goud told reporters that BJP's state unit president N Ramachander Rao would visit the village on February 24 and meet the baby's family members.
Meanwhile, a BRS delegation met DGP B Shivadhar Reddy and demanded a comprehensive inquiry into the incident.
The BRS leaders sought action against a person who allegedly attacked the infant's parents.
BC associations have held protests over the past few days regarding the alleged caste discrimination against the deceased infant's family members.
Police said on Sunday that four persons were arrested in connection with the cases registered after the family alleged that the baby died following an "assault" by a group of villagers. The family also alleged that they were abused in the name of caste in the incident on February 18.
However, a villager, part of the group, lodged a counter-complaint with the police the same day, alleging that he was attacked with stones during a scuffle with the family, sustaining a head injury, following which a case was registered.
The infant died on February 21 and her mother, who belongs to an SC community, also lodged a complaint alleging her daughter died due to the physical assault on the family by some villagers, police said.
