Reliance Power on Saturday clarified that Amar Nath Datta, recently arrested by the Enforcement Directorate (ED), has no links with the company. The clarification came through an official filing with stock exchanges following media reports about the ED action.
The company further reassured investors and stakeholders, stating that Datta’s arrest has not affected its business operations, financial performance, or employees. “We have learnt from press release dated Nov. 07, 2025 issued by ED that one Mr. Amar Nath Dutta has been arrested in the matter of fake bank guarantee. Reliance Power Ltd. wishes to clarify that Mr. Amar Nath Dutta is no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees, or any other stakeholders,” the filing read.
Employees and Subsidiaries Victims of Fraud
The filing highlighted that the company, its subsidiary Reliance NU BESS Ltd., and its employees “acted bonafidely” and have been victims of a fraud, forgery, and cheating conspiracy. It also clarified that Anil Ambani has not served on the board for over three and a half years, and media reports incorrectly referenced him.
Datta was taken into custody on Thursday under the Prevention of Money Laundering Act (PMLA), with a special court sending him to four days of ED custody. Alongside Datta, former Reliance Power CFO Ashok Kumar Pal and Partha Sarathi Biswal, MD of Odisha-based Biswal Tradelink, were also arrested as part of the ongoing probe.
Case Involves Fake Bank Guarantee to SECI
The case revolves around a Rs 68.2 crore bank guarantee submitted to the Solar Energy Corporation of India (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, which was found to be “fake”. The company, formerly known as Maharashtra Energy Generation Limited, emphasized that the incident does not impact its current business or financial standing.
