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Reliance Power Limited has issued a clarification following reports of the Enforcement Directorate’s (ED) arrest of one Amar Nath Dutta in connection with a case involving alleged fake bank guarantees.

In a filing to the stock exchanges on Saturday, the company said it had learned from an ED press release dated November 7 that Dutta had been arrested in the matter. Reliance Power emphasized that Dutta has “no connection with the company” and that the development “has no impact” on its operations, financial performance, shareholders, employees, or stakeholders.

“It is reiterated that the Company, its subsidiary, Reliance NU BESS Limited and the employees acted bonafidely and are a victim of fraud, forgery and cheating conspiracy

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