ED Arrests Amar Nath Dutta in Reliance Power Fraud Case, Third Key Accused Held
Third arrest in the ongoing money laundering probe; SECI allegedly defrauded through forged bank guarantees
New Delhi, Nov 7 : The Enforcement Directorate (ED) has arrested Amar Nath Dutta in connection with a fake Bank Guarantee case linked to Reliance Power Limited, a company owned by industrialist Anil Ambani. This marks the third arrest by the agency in the ongoing money laundering investigation.
According to the ED, the case involves the creation and use of forged Bank Guarantees and Structured Financial Messaging System (SFMS) confirmations submitted to the Solar Energy Corporation of India Limited (SECI). The fraudulent guarantees were allegedly used to manipulate the tender process, causing losses of over ₹100 crore to the public sector enterprise.
Earlier, the agency had arrested Reliance Power’s former Chief Financial Officer (CFO) Ashok Pal and Partha Sarathi Biswal, Managing Director of Biswal Tradelink Pvt. Ltd. Pal, a close aide of Anil Ambani, was accused of facilitating fake endorsements and diverting company funds.
Sources said Pal participated in meetings in Kolkata with Biswal, Amar Nath Dutta, and others to push for the use of fresh forged documents. He was arrested on October 11 under the Prevention of Money Laundering Act (PMLA) and is currently in judicial custody.
Following his arrest, Pal resigned from his position as CFO of Reliance Power. His arrest stemmed from a CBI FIR into alleged financial irregularities involving Yes Bank and multiple Anil Dhirubhai Ambani Group (ADAG) entities.
A Delhi court later dismissed Pal’s plea challenging the legality of his arrest, ruling in favour of the ED.
Meanwhile, the ED has summoned Reliance ADAG Group Chairman Anil Ambani to appear for questioning on November 14 in connection with the same case.
The development follows the ED’s recent attachment of over 132 acres of land worth ₹4,462.81 crore at Dhirubhai Ambani Knowledge City in Navi Mumbai under the PMLA. Earlier, the agency had attached 42 other properties worth over ₹3,083 crore belonging to Reliance Communications Ltd., Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd.
The ED continues to investigate the alleged diversion of funds and submission of fake guarantees by Reliance Power and associated entities.
