Tag Archives: preliminary investigation revealed

business, crime, finance, india, law

Why Reliance Power’s CFO has been arrested by ED

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**Why Reliance Power’s CFO Has Been Arrested by the ED**
*By Dwaipayan Roy | Oct 11, 2025, 11:08 AM*

**Overview**
The Enforcement Directorate (ED) has arrested Ashok Pal, the Chief Financial Officer (CFO) of Reliance Power, in connection with a money laundering case. The arrest took place on Friday night following questioning related to an alleged fake bank guarantee worth ₹68 crore. Pal is scheduled to be produced before a special court, where the ED will seek his remand for custodial interrogation.

**Details of the Case**
According to the ED, Ashok Pal played a key role in the financial activities of the company and was instrumental in submitting a bogus bank guarantee on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power. The fake bank guarantee, valued at ₹68.2 crore, was submitted to the Solar Energy Corporation of India Limited (SECI) with the intent to defraud.

**Exposure of a Larger Racket**
The ED’s investigation has uncovered a broader racket involving the provision of fake bank guarantees to various business groups. An Odisha-based company, Biswal Tradelink, has been identified as a primary player in this fraudulent scheme. In August, the agency conducted searches on the firm and its promoters and arrested its Managing Director, Partha Sarathi Biswal.

Earlier, the Reliance Group had stated that Reliance Power was a victim of fraud in this matter.

**How the Scheme Operated**
Preliminary investigations revealed that Biswal Tradelink used an email domain strikingly similar to that of the State Bank of India (SBI) to create a false impression of authenticity. This fake email domain was used to send forged communications to SECI.

Additionally, the company facilitated fake billing for commission purposes and operated multiple undisclosed bank accounts used for suspicious transactions amounting to crores of rupees.

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The ED continues its investigation as it seeks to bring all those involved in this fraud to justice.
https://www.newsbytesapp.com/news/business/ed-arrests-reliance-power-cfo-in-bank-guarantee-fraud-case/story

crime, drugs, international, law enforcement, terrorism

Cross-border arms and narcotics smuggling network busted in Punjab; five held

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**Punjab Police Busts Cross-Border Arms and Narcotics Smuggling Network in Amritsar**

In a major breakthrough, the Punjab Police have dismantled a cross-border arms and narcotics smuggling network in Amritsar. The operation resulted in the arrest of five individuals and the recovery of 1.5 kg of heroin along with 12 pistols, authorities said on Thursday.

Director General of Police (DGP) Gaurav Yadav, in a post on the social media platform X, revealed that preliminary investigations showed two of the accused, Joban Singh and Jashanpreet Singh, were in direct contact with Pakistan-based smugglers.

He stated, “Twelve pistols and 1.5 kilograms of heroin were recovered from their possession. The smuggled consignments were intended to fuel inter-gang rivalries in Punjab.”

A case has been registered against the accused under the Arms Act and the Narcotics Drugs Psychotropic Substances Act at Gate Hakima Police Station in Amritsar. Further investigations are ongoing to expose the full nexus, including the backward and forward linkages of this criminal network, the DGP added.

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**Jammu and Kashmir Police Attach Property of Alleged Terrorist Handler**

Meanwhile, in Jammu and Kashmir, the Handwara Police have attached the property of an alleged terrorist handler located at Palpora village in Kupwara district.

Earlier, the Sopore Police conducted search operations at the residences of Jamaat-e-Islami (JeI)-linked individuals in Zaloora, Sopore. These efforts form part of ongoing measures to dismantle the separatist-terror ecosystem and maintain peace and security in the region.

According to police officials, searches were carried out at the homes of Mohammad Maqbool Bhat, son of Abdul Rahim Bhat, and Tanveer Ahmad Dar, son of Abdul Jabbar Dar. Both individuals are residents of Zaloora.

The operations related to FIRs registered under the Unlawful Activities (Prevention) Act (UAPA). During the searches, incriminating materials linked to the proscribed organisation were recovered and seized to aid further investigations, which are being probed by the relevant agencies.

*(With inputs from PTI)*
https://www.mid-day.com/news/india-news/article/punjab-cross-border-arms-and-narcotics-smuggling-network-busted-five-arrested-23596878