Highlights: ED makes third arrest in Reliance Power money laundering case
Highlights, Nov 7: ED arrests Amar Nath Dutta under PMLA in case linked to alleged fake ₹68 crore bank guarantee, catch all the latest updates here
 "Reliance Power")
The Enforcement Directorate (ED) has made a third arrest in its money laundering investigation involving Reliance Power, a company from businessman Anil Ambani’s Reliance Group. The case pertains to the alleged issuance of a fake bank guarantee worth ₹68 crore, official sources said on Friday.
A person identified as Amar Nath Dutta was taken into custody on Thursday under the provisions of the Prevention of Money Laundering Act (PMLA). He was subsequently remanded to four days of ED custody by a special court, the sources said.
Earlier, the federal agency had arrested former Reliance Power Chief Financial Officer Ashok Kumar Pal and Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink, in connection with the same case.
The investigation centres around a bank guarantee worth ₹68.2 crore submitted to Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power. The company, formerly known as Maharashtra Energy Generation Limited, is listed on the stock exchanges.
According to the ED, the bank guarantee — purportedly issued by the FirstRand Bank in Manila, Philippines — was found to be “fake”. The probe agency noted that the said bank does not have a branch in the Philippines.
Biswal Tradelink, the agency alleged, ran a racket supplying “fake” bank guarantees to corporate clients for a commission.
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First Published: Nov 07 2025 | 10:09 AM IST
