Reliance Power: Anil Ambani’s company Reliance Power has issued its clarification on the notice received from Solar Energy Corporation of India (SECI) for submitting fake bank guarantee documents. In its defense, Reliance Power issued a statement saying, the company and its subsidiary companies have worked honestly and have been victims of fraud, forgery and fraudulent conspiracy. The company said that in this regard, a criminal complaint has already been filed against the third party in the Economic Offenses Wing of Delhi Police on October 16, 2024, on the basis of which an FIR has been registered on November 11, 2024. . The company said that the matter is under investigation and due process of law will be adopted.
Reliance Power cleaning
In a regulatory filing with the stock exchange, Reliance Power said, the company has received a show cause notice from Solar Energy Corporation of India on November 13, 2024. On this notice, its company said in its reply, Reliance Power and its subsidiary companies have become victims of a fraudulent conspiracy. In fact, Solar Energy Corporation of India (SECI) has issued a show cause notice to Anil Ambani’s company Reliance Power (RPower), in which an explanation has been sought from the company as to why a bank which has no branch can be used for submitting fake bank documents. Why criminal action should not be taken against the company?
SECI will take criminal action
Solar Energy Corporation of India, under the Ministry of New and Renewable Energy, said in its notice issued on November 13, 2024, It is informed that SECI has issued notice to entities like Reliance Power and Reliance NU BESS due to A show cause notice has been issued, seeking an explanation as to why criminal proceedings should not be initiated against Solar Energy Corporation of India in view of the fraudulent and fraudulent activities.
Reliance Power shares fell 18 percent in 1 week
Solar Energy Corporation of India has recently banned Reliance Power from participating in its tender for the next three years on charges of submitting fake bank guarantees, which has increased the problems of Reliance Power. The effect of Solar Energy Corporation’s action has also been seen on the shares of Reliance Power. The stock has fallen by about 18 percent in a week. On Thursday, Reliance Power shares closed at Rs 35.93 with a decline of 1.45 percent.
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