Bogus Bank Guarantee submitted by Reliance NU BESS; Court grants 4 days’ ED custody.
FinTech BizNews Service
Mumbai, November 8, 2025: Directorate of Enforcement (ED) has arrested Amar Nath Dutta on 06/11/2025 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. He is arrested in connection with a money-laundering investigation linked to the submission of forged Bank Guarantees (BGs) of over Rs. 68 Crore, forged BG endorsements, and fake SFMS confirmations by Reliance Power Ltd subsidiary to the Solar Energy Corporation of India Ltd. (SECI), as per a press release issued by the ED.
Amar Nath Dutta claims to provide consultancy services in Trade Financing. In current case, he is a Kolkata resident, who played active role along with Ashok Pal and Partha Sarathi Biswal, for providing fake BG. Amar Nath Dutta was produced before the Hon’ble Court of Additional Sessions Judge04, Patiala House Courts, New Delhi, on 06/11/2025. The Hon’ble Court has granted four days of ED custody till 10/11/2025. ED initiated investigation on the basis of 3 FIRs filed in this case including FIR No. 0079/2025, filed by SECI with the Economic Offences Wing (EOW) of the Delhi Police. SECI, a public sector undertaking under the Ministry of New and Renewable Energy, has suffered loss of over Rs. 100 Crore due to fraudulent BG submission by Reliance Power subsidiary. It may be recalled that on 11/10/2025, Ashok Kumar Pal, the then Chief Financial Officer of Reliance Power Ltd was arrested by ED in connection with money laundering charges in the same case. Ashok Pal’s arrest followed arrest of his accomplice, Partha Sarthi Biswal, MD of a shell company- M/s Biswal Tradelink Pvt. Ltd.
ED has, during investigation, uncovered that forged SBI endorsements were generated through spoofed email domain sbi.17313@s-bi.co.in to mislead SECI into accepting the fabricated BG as genuine. In addition, ED has identified more spoofed domains of commercial banks such as 'lndiabank.in', 'lndusindbank.in', 'pnblndia.in', 'psdbank.co.in', 'siliguripnb.co.in', 'lobbank.co.in', and 'unionbankofIndia.co.in' - each using single-character swaps or minor textual tweaks. These spoofed domains are used by the same set of persons. ED’s investigation is continuing into various aspects including identification of beneficiaries of Proceeds of Crime, tracing of end-use of funds, assets acquired from Proceeds of Crime and examination of the larger conspiracy and roles of additional persons and entities.
