Fake bank guarantee in ₹100cr scam: 3rd arrest
A major financial scam has hit the energy sector: Amar Nath Dutta, a consultant from Kolkata, is now the third person arrested for allegedly helping create a fake ₹68.2 crore bank guarantee tied to Reliance NU BESS Limited (a Reliance Power company).
The forged document—supposedly from a Manila-based bank—ended up costing Solar Energy Corporation of India (SECI) over ₹100 crore.
Earlier, police had already nabbed Reliance Power's ex-CFO Ashok Kumar Pal and Partha Sarathi Biswal, who heads Odisha's Biswal Tradelink.
Reliance Power reported itself as victim
Investigators say Biswal Tradelink ran a racket making fake bank guarantees using forged paperwork and even spoofed emails that looked like they came from State Bank of India.
Reliance Power has reported itself as a victim and notified authorities back in October 2024.
Dutta was picked up under anti-money laundering laws and will stay in ED custody till November 10 while officials dig deeper to track where the money went and who else might be involved.
For anyone wondering: a Reliance Group spokesperson clarified that Anil Ambani isn't linked to this case at all.