Reliance Power CFO held; ED alleges role in forged bank guarantees linked to SECI tender

Wait 5 sec.

Enforcement Directorate arrested Reliance Power CFO Ashok Kumar Pal, labeling him a 'principal architect' of a money laundering scheme involving fake bank guarantees worth Rs. 68.20 crores. Pal allegedly orchestrated sham transactions and integrated forged documents into a tender process for Reliance NU BESS. The company stated it is a victim of fraud and has suspended Pal pending investigation.