Synopsis: Reliance Power shares plunged 6.8% to ₹35.10 after ED filed a PMLA chargesheet over a ₹68.2-crore fake bank guarantee and ₹6.33-crore fund diversion case.

The shares of the company that develops, constructs and operates power projects both in India as well as internationally are in focus after the ED filed a chargesheet against the firm.

With the market capitalization of Rs. 14,681.99 crore, Reliance Power Ltd ‘s share on Monday made a day low of Rs.35.10, down by 6.8 percent from its previous day’s close price of Rs.37.69 per share. The share has given a return of 800 percent over the past five years.

What happened:

Reliance Power allegedly used a shell entity to obtain a fake bank guarantee from a non-existent foreign bank branch. They used a spoofed email (s-bi.co.in

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