Reliance Power Denies Links to ED Arrest in ₹68 Crore Bank Guarantee Case
Reliance Power Limited has officially denied any connection with Amar Nath Dutta, who was arrested by the Enforcement Directorate in a case involving forged bank guarantees worth over ₹68 crore. The company clarified that Dutta’s arrest has no impact on its business operations, financial performance, or stakeholders.
Key Developments
- ED arrested Amar Nath Dutta on November 6 under PMLA provisions
- Case involves forged bank guarantees of ₹68+ crore submitted to SECI
- Reliance Power states it’s a victim of fraud conspiracy
- Company clarifies Anil Ambani not on board for 3.5+ years
Company’s Official Statement
In a stock market filing, Reliance Power stated: “We have learnt from press release dated November 07, 2025 issued by ED that one Mr. Amar Nath Dutta has been arrested in the matter of fake bank guarantee. Reliance Power Limited wishes to clarify that Mr. Amar Nath Dutta is no way connected with the Company.”
The company emphasized that it, its subsidiary Reliance NU BESS Limited, and employees acted in good faith and are “victims of fraud, forgery and cheating conspiracy.”
Media Clarification
Reliance Power specifically addressed media reports linking Anil D. Ambani to the case, clarifying that he has not been on the company’s board for over 3.5 years.
ED Investigation Details
The Enforcement Directorate’s money laundering investigation focuses on the submission of forged bank guarantees, BG endorsements, and fake SFMS confirmations by a Reliance Power subsidiary to the Solar Energy Corporation of India Ltd.
