CFO of Reliance Power Arrested for Rs 136 Crore Forged Bank Guarantees Scandal

The Economic Offences Wing (EOW) of the Delhi Police has arrested the CFO of Reliance Power Limited and two others for allegedly preparing and using forged bank guarantees totaling over Rs 136 crore. These documents were used to secure a crucial tender from the Solar Energy Corporation of India (SECI), as revealed by an official statement on Tuesday.

Identified as Ashok Kumar Pal, along with accomplices Partha Sarthi Biswal and Amarnath Dutta, the accused are said to have conspired to create fake bank guarantees. According to the complaint filed by SECI manager Biblesh Meena, the individuals submitted two forged guarantees of Rs 68.20 crore each, allegedly issued by foreign banks but later denied by the actual institutions.

The case was initially registered at the EOW police station on June 24 last year and subsequent investigations have unveiled a complex web of deception involving fabricated emails and endorsements. A special team was formed to apprehend the suspects, who were arrested and taken into custody on April 15. The investigation, supervised by Deputy Commissioner of Police Subodh Kumar Goswami, continues as authorities delve deeper into the conspiracy.