NEW DELHI: Enforcement Directorate on Thursday arrested Amar Nath Dutta, a Kolkata-based marketing consultant who was allegedly concerned with Reliance Energy's former CFO Ashok Pal in furnishing bogus financial institution assure of over Rs 68 crore supplied by Reliance NU BESS to Photo voltaic Vitality Company of India for concern of tender. Dutta, who claims to offer consultancy companies in commerce financing, has been remanded to ED custody for 4 days by a particular courtroom right here for additional questioning. That is the third arrest on this case. Earlier, Pal and Partha Sarathi Biswal, MD, Biswal Tradelink, had been held. The most recent motion got here precisely per week earlier than Anil Ambani's questioning on Nov 14 in ED's investigation in opposition to him and his Reliance group entities. tnn
ED finds solid financial institution assure issued by RPower subsidiary
Anil Ambani is going through Enforcement Directorate investigation in two cash laundering circumstances associated to alleged financial institution frauds and different prices of conspiracy. He was examined by the company earlier on August 5 and final week, ED connected belongings of Ambani and his different Reliance entities value over Rs 7,500 crore. On this case, the financial institution assure had solid endorsements and pretend SFMS confirmations from Reliance Energy subsidiary to SECI, ED stated. “Investigation is continuous into numerous elements, together with identification of beneficiaries of proceeds of crime, tracing of end-use of funds, belongings acquired from crime proceeds and examination of the bigger conspiracy and roles of further individuals and entities,” the probe company stated. “The SECI – a public sector endeavor beneath the Union ministry of latest and renewable vitality – has suffered lack of over Rs 100 crore as a consequence of fraudulent financial institution assure submission by Reliance Energy subsidiary,” the enforcement company claimed. Enforcement Directorate's cash laundering probe is predicated on an FIR filed by the SECI with the financial offence wing of Delhi Police. Reliance Energy, a listed firm, and its prime executives are accused of alleged diversion of funds. “Board decision empowered Pal and others to finalise, approve, signal and execute all paperwork for Photo voltaic Vitality Company of India's tender, and to make use of RPL's monetary functionality for the bid,” company sources stated. On August 1, ED had carried out searches at three premises in Bhubaneswar and one at Kolkata after its investigators discovered alleged proof of faux financial institution assure, generated by a shell entity registered at Bhubaneswar. Spoofed electronic mail accounts had been allegedly created to make the ensures look real.
