Overview
- The prosecution complaint under the PMLA was filed at Patiala House Court naming Reliance Power, subsidiaries Reliance NU BESS and Rosa Power, ex‑CFO Ashok Kumar Pal, Biswal Tradelink and its MD, and other individuals and firms.
- ED alleges a shell entity, Biswal Tradelink, arranged forged guarantees purportedly from a non‑existent FirstRand Bank branch in Manila and ACE Investment Bank in Malaysia, with spoofed SBI endorsements using a look‑alike domain s-bi.co.in.
- Investigators say Rs 6.33 crore was routed from Rosa Power to Biswal Tradelink under bogus transportation services and Rs 5.40 crore was paid as fees, backed by fake work orders and invoices.
- After SECI flagged the guarantee, Reliance arranged a genuine IDBI Bank guarantee that was rejected for being late, then allegedly sought a fresh SBI endorsement in Kolkata using a dummy agreement and bogus municipal documents before lodging a complaint against the intermediary.
- ED reports arrests of the then CFO and other facilitators who are in judicial custody and attachment of assets worth about Rs 5.15 crore, while Reliance Power says it is a victim of third‑party fraud and notes Anil Ambani is not on its board.