Reliance Power, arms barred from renewable energy tenders for 3 years
SECI) has barred Anil Ambani group company Reliance Power Ltd and its subsidiaries from participating in its renewable energy tenders after one of the group firms allegedly submitted a fake bank guarantee.
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Reliance Power denied any wrongdoing and claimed it is «a victim of fraud, forgery and cheating conspiracy.»
It also said it will take all appropriate legal steps to challenge the unwarranted action of SECI in the interest of its more than 40 lakh shareholders.
It also said it will take all appropriate legal steps to challenge the unwarranted action of SECI in the interest of its more than four million shareholders.
SECI, in a notification dated November 6, said it was discovered that Reliance NU BESS (then Maharashtra Energy Generation) had submitted a fake bank guarantee (issued by a foreign bank) against earnest money deposit in a tender for a standalone battery energy storage system of 2000 MWh issued in June.
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