ED makes third arrest in money laundering probe involving Reliance ADA group firm

The Directorate of Enforcement (ED) has arrested Amar Nath Dutta, marking the third arrest in a money laundering investigation involving Reliance Power, an Anil Dhirubhai Ambani (ADA) Group company. The case revolves around a fraudulent bank guarantee worth over Rs 68 crore issued to the Solar Energy Corporation of India Ltd (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, officials said.

The agency said SECI suffered a loss of over Rs 100 crore due to fraudulent bank guarantees submitted by Reliance Power subsidiary.