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Reliance Power shares slide 5% after SECI issues showcause notices over fake bank guarantees

Summary by SecularTimes
Shares of Anil Ambani-led Reliance Power slid 5% to hit their lower circuit at Rs 34.20 on the BSE following a show-cause notice issued by the Solar Energy Corporation of India (SECI). The notice questioned why criminal action should not be taken against the company and its subsidiary for allegedly submitting fake bank guarantees. Last week, Solar Energy Corporation of India barred Reliance Power and its arm Reliance NU BESS from participating i…
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