US EditionReliance Power CFO Ashok Kumar Pal Arrested by ED in Money Laundering Case
- On Friday the Enforcement Directorate arrested Ashok Kumar Pal, Executive Director and Chief Financial Officer of Reliance Power Ltd, in a money‑laundering probe under the PMLA.
- The probe stems from a bogus guarantee to Solar Energy Corporation of India worth over Rs 68 crore, and ED alleges Pal diverted funds and submitted forged documents to cheat the PSU.
- Officials describe the scheme as using fake invoices and messaging apps to bypass controls, with Biswal Tradelink Pvt Ltd and director Partha Sarathi Biswal aiding forged guarantees including a fake FirstRand Bank, Manila document.
- Markets reacted with renewed focus on RPower ahead of October 9, 2025, as Pal is scheduled for a remand hearing at 9:30 am on Saturday and ED seeks custody for interrogation.
- The arrest comes as ED widens probes into the Anil Dhirubhai Ambani Group amid suspected loan frauds totalling Rs 12,524 crore and broader ADA-linked irregularities.
28 Articles
28 Articles
ED Gets 2-day Custody of Reliance Power CFO Ashok Kumar Pal in Fake Bank Guarantee and Invoicing Case
Get latest articles and stories on India at LatestLY. A Delhi court has granted the Enforcement Directorate (ED) two-day custody of Ashok Kumar Pal, Chief Financial Officer (CFO) and Executive Director of Reliance Power, in connection with a case involving alleged fake bank guarantees and invoicing. India News | ED Gets 2-day Custody of Reliance Power CFO Ashok Kumar Pal in Fake Bank Guarantee and Invoicing Case.
CFO of Reliance Power Arrested in Fake Bank Guarantee Case
CFO of Reliance Power Arrested in Fake Bank Guarantee Case The Enforcement Directorate (ED) has apprehended Ashok Pal, the Chief Financial Officer (CFO) of Reliance Power, amid allegations of issuing a fraudulent bank guarantee amounting to Rs 68 crore. Official sources disclosed Pal's arrest, which occurred on Friday night under the jurisdiction of the Prevention of Money Laundering Act (PMLA).The case emanates from a dubious bank guarantee sub…
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