Fri Nov 07 06:45:27 UTC 2025: Okay, here’s a news article summarizing the information, focusing on the key elements:
The Hindu: Enforcement Directorate Makes Third Arrest in Reliance NU BESS Bank Guarantee Fraud Case
New Delhi – November 7, 2025: The Enforcement Directorate (ED) has made its third arrest in connection with an alleged bogus bank guarantee scam involving Reliance NU BESS Ltd, a subsidiary of Reliance Power. Amar Nath Dutta was apprehended today, joining Ashok Pal, former CFO of Reliance Power, and Partha Sarathi Biswal, MD of Biswal Tradelink, in ED custody. A local court granted four days custody for questioning.
The case revolves around a ₹68.2 crore bank guarantee submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS. ED investigators determined that the guarantee was fraudulent. The alleged fraud resulted in a loss of over ₹100 crore to SECI.
Biswal Tradelink, based in Odisha, is accused of running a racket that provided fake bank guarantees to various businesses. According to the ED, the company even used a deceptively similar email domain to the State Bank of India in forged communications with SECI to appear legitimate.
The ED’s investigation stems from a November 2024 FIR filed by the Delhi Police’s Economic Offences Wing (EOW). Reliance Power has stated that it was a victim of fraud and filed a criminal complaint with the EOW in October 2024 against Biswal Tradelink.
The ED has already provisionally attached ₹7,500 crore in assets allegedly linked to the Reliance Anil Ambani Group. The investigation is ongoing.
With inputs from PTI
First Piper 