Anil Ambani's company in disaster, sword of criminal case hanging in fake bank guarantee case, stock flourishing

Reliance Power Share: Solar Energy Corporation of India has increased the tension of Reliance Power. SECI has sent a notice to Anil Ambani's Reliance Power. A show-cause notice has been sent asking why criminal proceedings should not be initiated against him.

Anil Ambani Reliance Power: Industrialist Anil Ambani's troubles are not taking the name of the end. Happiness does not stop for long that new difficulties start knocking. This is what is happening with Reliance Power, which has recently become debt-free. Reliance Power is caught in new difficulties.

Anil Ambani's company has problems

Solar Energy Corporation of India has increased the tension of Reliance Power. SECI has sent a notice to Anil Ambani's Reliance Power. A show-cause notice has been sent asking why criminal proceedings should not be initiated against him. In fact, Reliance Power and its subsidiary company Reliance Nu Bess have been accused of big allegations. He has been accused of forging a fake bank guarantee. Solar Energy Corporation of India has accused these companies of Anil Ambani of submitting fake bank guarantees.

Prevented from participating in the tender

Let us know that due to fake documents, last week, the top renewable energy agency SECI, in its bids last week, stopped Anil Ambani's company Reliance Power and its unit Reliance Nu Bess from participating in the tender for three years. Now it is being said that a criminal case will be filed against the company. The notice has been sent to the company asking why criminal action should not be taken against the company and its entity for submitting fake bank guarantees.

Reliance Power shares fall in bad shape

The impact of these reports was seen on the shares of Reliance Power. Reliance Power shares are continuously falling. After being debt-free and getting new orders, where this stock once returned to the boom, now it has completely reversed. At the same time, Reliance Power said in the information given to the stock market that it has been a victim of a conspiracy of 'fraud and forgery'. Reliance Power said a criminal complaint has already been filed with the Economic Offences Wing of Delhi Police against a third party on October 16, 2024 in this regard. The matter is under investigation and due process of law will be followed.

What's in the notice

According to the notice, Reliance NU Bess allegedly submitted a bank guarantee issued by First Rand Bank's Manila (Philippines) branch. On detailed examination of the matter, the Indian branch of the said bank confirmed that the bank does not have any such branch in Philippines. On this basis, Seki concluded that the bank guarantee presented was forged. On November 6, Seiki had announced a three-year ban on Reliance Power and Reliance Nu Bess from participating in SECCI tenders for submitting "forged documents".