New Delhi:
Ashok Kumar Pal, a senior officer at Reliance Power Limited and a close aide to Reliance Group Chairman Anil Ambani, was arrested on Saturday in connection with a money laundering case linked to a fake bank guarantee scheme. The Enforcement Directorate (ED) apprehended Pal under the provisions of the Prevention of Money Laundering Act (PMLA).
According to officials, Pal, who has served as the Chief Financial Officer at Reliance Power for over seven years, is accused of submitting a fraudulent bank guarantee worth over Rs 68 crore to the Solar Energy Corporation of India (SECI), a public sector company under the Ministry of New and Renewable Energy. To pass off the fake guarantee as legitimate, Pal allegedly used spoofed domains of commercial banks, including SBI, IndusInd, Punjab National Bank, and others, with minor textual alterations like ‘[email protected]
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