The individuals involved have been identified as Ashok Kumar Pal (50), CFO of Reliance Power Ltd; Partha Sarthi Biswal (54), managing director of Odisha-based Biswal Tradelink Pvt Ltd; and Amarnath Dutta (50), a resident of Kolkata, as stated by the EOW.
The case was initiated on June 24 of the previous year under pertinent sections of the Bharatiya Nyaya Sanhita (BNS) and the IT Act at the EOW police station following a complaint lodged by SECI manager Biblesh Meena.
According to police reports, Reliance NU BESS Ltd, a subsidiary of Reliance Power Ltd, submitted two forged bank guarantees, each amounting to ₹68.20 crore, during a tender process organized by SECI. These guarantees were falsely claimed to be issued by foreign banks.
“To enhance credibility, the accused allegedly employed fake email communications and forged structured financial messaging system (SFMS) confirmations that were purportedly issued by the State Bank of India (SBI), which the bank later denied,” noted the statement.
The investigation revealed that Pal, in collaboration with Biswal and Dutta, conspired to obtain the forged bank guarantees through intermediaries, compensating them significantly for the creation of fake documents and endorsements.
“Ashok Kumar Pal coordinated with co-accused individuals to arrange forged bank guarantees from foreign banks in order to secure the tender with SECI,” commented Deputy Commissioner of Police Subodh Kumar Goswami (EOW) in the statement.
A special team was formed under the guidance of Goswami to probe the case and apprehend the suspects.
All three suspects were arrested on April 15 and have been placed in police custody until April 23, the report indicated.
Also Read | Supreme Court rejects Anil Ambani plea on loan fraud designation; notes settlement proposal
Moreover, the police noted that Pal is a qualified chartered accountant (CA) and has been associated with Reliance ADAG since 2018. Biswal, having completed Class 12, acted as an intermediary through his firm, while Dutta, who holds a BCA and a diploma in import-export, functioned as a middleman in the conspiracy.
Ongoing investigations into the case are in progress, according to the report.
