The Enforcement Directorate (ED) on Thursday made the third arrest in its ongoing probe into alleged money laundering linked to a multi-thousand crore loan fraud case involving the Reliance Anil Dhirubhai Ambani (ADA) Group.
The federal agency arrested Amar Nath Dutta, who it said played an "active role" in the submission of forged bank guarantees (BGs) of over ₹68 crore to help a Reliance Power subsidiary participate in a Solar Energy Corporation of India tender.
The arrest comes even as the ED has summoned Reliance ADA Group chairman Anil Ambani to its New Delhi headquarters on November 14. The agency had questioned him earlier in August.
Dutta, a resident of Kolkata, claims to provide consultancy services in trade financing.
The ED had made its first arrest in the case on August 1. Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink, was arrested for allegedly arranging the fake bank guarantee and related documents. According to the ED, his company received ₹5.40 crore from Reliance Power for this service.
Last month, the ED arrested Ashok Pal, chief financial officer of Reliance Power Ltd and a close aide of industrialist Anil Ambani, in connection with the same case.
According to the ED, Dutta played an active role along with Pal and Biswal for arranging the alleged fake bank guarantee. He was produced before a Delhi court, which sent him to ED's custody for four days.
In a statement released on Friday, the agency said its investigation is continuing into various aspects including identification of beneficiaries of proceeds of crime, tracing of end-use of funds, assets acquired from the proceeds of crime and examination of the larger conspiracy and roles of additional persons and entities.
After Pal's arrest last month, Reliance Power had issued a statement saying that he had demitted the office of executive director and CFO with immediate effect "pending the ongoing matter and in order to assist the investigation". The statement said that the probe was initiated after the company lodged a complaint with the Economic Offences Wing of the Delhi Police in October 2024.
According to the statement, Anil Ambani has not been on Reliance Power's board for the past more than three and a half years and "is not concerned with this matter in any manner".
The federal agency arrested Amar Nath Dutta, who it said played an "active role" in the submission of forged bank guarantees (BGs) of over ₹68 crore to help a Reliance Power subsidiary participate in a Solar Energy Corporation of India tender.
The arrest comes even as the ED has summoned Reliance ADA Group chairman Anil Ambani to its New Delhi headquarters on November 14. The agency had questioned him earlier in August.
Dutta, a resident of Kolkata, claims to provide consultancy services in trade financing.
The ED had made its first arrest in the case on August 1. Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink, was arrested for allegedly arranging the fake bank guarantee and related documents. According to the ED, his company received ₹5.40 crore from Reliance Power for this service.
Last month, the ED arrested Ashok Pal, chief financial officer of Reliance Power Ltd and a close aide of industrialist Anil Ambani, in connection with the same case.
According to the ED, Dutta played an active role along with Pal and Biswal for arranging the alleged fake bank guarantee. He was produced before a Delhi court, which sent him to ED's custody for four days.
In a statement released on Friday, the agency said its investigation is continuing into various aspects including identification of beneficiaries of proceeds of crime, tracing of end-use of funds, assets acquired from the proceeds of crime and examination of the larger conspiracy and roles of additional persons and entities.
After Pal's arrest last month, Reliance Power had issued a statement saying that he had demitted the office of executive director and CFO with immediate effect "pending the ongoing matter and in order to assist the investigation". The statement said that the probe was initiated after the company lodged a complaint with the Economic Offences Wing of the Delhi Police in October 2024.
According to the statement, Anil Ambani has not been on Reliance Power's board for the past more than three and a half years and "is not concerned with this matter in any manner".
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