The Enforcement Directorate (ED) has arrested the CFO of industrialist Anil Ambani’s group company Reliance Power in a money laundering case linked to issuance of an alleged fake bank guarantee of Rs 68 crore, official sources said Saturday.

The CFO, Ashok Pal, was taken into custody Friday night under the provisions of the Prevention of Money Laundering Act (PMLA) after he was questioned by the agency, they said.

He will be produced before a special court Saturday, and the agency will seek his remand for custodial interrogation, according to the sources.

The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be “fa

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