Reliance Power Share Price: Anil Ambani’s company Reliance Power, owned by Reliance Group, has got a big relief. Solar Energy Corporation of India (SECI) has withdrawn the ban imposed on Reliance Power from bidding for solar projects. The company said that except Reliance NU BESS Limited, Reliance and its subsidiary companies will be able to participate in all the tenders of Solar Energy Corporation of India.
Reliance Power got big relief
In the regulatory filing filed with the stock exchanges on December 3, 2024, it was informed that the ban notice imposed on Reliance Power Limited has been withdrawn by Solar Energy Corporation of India Limited. The company said in a statement, public notice issued on 6 November 2024 in which it was told that Solar Energy Corporation of India has barred Reliance Power and Reliance New Base Limited from participating in future tenders for the next three years. Has been installed.
Ban on Reliance Power lifted with immediate effect
According to Reliance Power, after legal proceedings in this matter, the ban imposed on Reliance Power from participating in the tender has been withdrawn with immediate effect. The company said that even after the withdrawal of the ban notice, Solar Energy Corporation of India has the right to take all actions as per its law. In such a situation, the notice issued on 6 November 2024 is modified to a limited extent.
Relief from Delhi High Court
In fact, Solar Energy Corporation of India has banned Reliance Power from participating in its future tenders for the next three years in connection with the submission of fake bank guarantee documents. However, Reliance Power had then said that the company and its subsidiary companies had acted honestly and were victims of fraud, forgery and fraudulent conspiracy. The company had also filed a criminal complaint in this matter with the Economic Offenses Wing of Delhi Police. After the action of Solar Energy Corporation, there was a sharp decline in the stock of Reliance Power. But Delhi High Court stayed SECI’s notice to ban Reliance Power.
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