The enforcement directorate (ED) has taken major action against Anil Ambani’s Reliance Group. The agency has arrested Ashoke Kumar pal, the chief financial officer cfo of Reliance power, after questioning him at the Delhi office. According to official sources the arrest took place on Saturday following a detailed inquiry related to suspected financial irregularities. The investigation is part of ED’s ongoing probe into alleged money laundering and fund misuse involving the company. Further details about the case are expected to be revealed soon as the investigation continues.
According to sources, Reliance power’s chief financial officer CFO Ashok Kumar pal was arrested on Friday under the provisions of the prevention of Money laundering act PMLA. the enforcement directorate took this action as part of its ongoing investigation into large-scale bank fraud cases involving companies linked to Anil Ambani Group. The agency suspects irregularities worth several crores of rupees related to misuse of bank loans and fund diversion. Officials said that the investigation aims to uncover the financial trail and identity individuals involved in the alleged fraud. Further questioning and evidence collection are expected to take place in the coming days as the case develops.
According to the reports, the board’s resolution authorized him, along with other officials to finalize approve sign and execute all the documents related to SECI’s battery energy storage system BESS tender. The decision also permitted the use of reliance power Limited’s RPL financial strength and credentials for participating in the bid. his move aimed to strengthen the company’s position in the renewable energy sector and enhance its chance of securing major clean energy projects. the authorization reflects the company’s strategic intent to expand its involvement in large-scale energy storage initiatives promoted by the solar energy corporation of India SECI. He played a key role in submitting a fake bank guarantee worth over Rs.68 crore to SECO with the intent to cheat the public sector enterprise. According to the investigation, he was actively involved in planning, supervising, funding and concealing the forged bank guarantee scheme used in the SECI tender. the enforcement directorate suspects that the fake documents were created to falsely contract. his actions are now under detailed scrutiny as part of the broader probe into financial fraud and money laundering linked to reliance group companies.
