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The Directorate of Enforcement (ED) has arrested Amar Nath Dutta on November 6, 2025, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002) in connection with a money laundering case involving forged bank guarantees (BGs) worth over ₹68 crore. The fraudulent guarantees were allegedly submitted by Reliance NU BESS Ltd., a subsidiary of Reliance Power Ltd., to the Solar Energy Corporation of India Ltd. (SECI).
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According to the ED, Amar Nath Dutta, a Kolkata-based individual who claims to provide consultancy services in trade financing, played an active role in facilitating the fake BGs along with Ashok Pal, then Chief Financial Officer (CFO) of Reliance Power Ltd., and Partha Sarathi Biswal, Managing Director of M/s Biswal Tradelink Pvt. Ltd.
Dutta was produced before the Hon’ble Additional Sessions Judge–04, Patiala House Courts, New Delhi, on November 6, 2025. The court granted four days of ED custody, till November 10, 2025, for further interrogation.
The investigation was initiated based on three FIRs, 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, reportedly suffered a financial loss exceeding ₹100 crore due to the fraudulent submission of bank guarantees by the Reliance Power subsidiary.
Earlier, on October 11, 2025, the ED had arrested Ashok Kumar Pal (then CFO of Reliance Power Ltd.) and Partha Sarathi Biswal, MD of the shell company M/s Biswal Tradelink Pvt. Ltd., in connection with the same case.
During investigation, ED uncovered that forged State Bank of India (SBI) endorsements were created using a spoofed email domain — sbi.17313@s-bi.co.in — to deceive SECI into accepting the fake bank guarantees as genuine. The agency has also identified multiple other spoofed domains imitating commercial banks such as lndiabank.in, lndusindbank.in, pnblndia.in, psdbank.co.in, siliguripnb.co.in, lobbank.co.in, and unionbankofIndia.co.in, all designed with minor character swaps and spelling variations to appear legitimate.
ED officials stated that the investigation is ongoing to trace the beneficiaries of the Proceeds of Crime (POC), determine the end use of the illicit funds, identify assets purchased through such proceeds, and uncover the larger conspiracy involving additional individuals and entities.
