New Delhi, Oct 11: 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 on Saturday.

Ashok Pal was taken into custody on 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 on 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, which was found to be “fak

See Full Page