Shares of Reliance Power Ltd ( ) surged 7.80 per cent in Monday's trade after the company issued a clarification regarding media reports linking it to a case involving a fake bank guarantee.

In an exchange filing, the company said, "Reliance Power wishes to clarify that Amar Nath Dutta is in no way connected with the Company and the same has no impact on the Company and its business operations, financial performance, shareholders, employees or any other stakeholders." Advertisement

The clarification followed reports about the arrest of Amar Nath Dutta by the Enforcement Directorate (ED) in connection with a fake bank guarantee case. RPower further stated, "It is reiterated that the Company, its subsidiary Reliance NU BESS Ltd, and the employees acted bonafidely and are victims of fraud,

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