ED Arrests Third Person in Reliance Power Fake Bank Guarantee Case
The Enforcement Directorate (ED) has made its third arrest in connection with the Reliance Power case involving alleged fake bank guarantees. Amar Nath Dutta was taken into custody on Thursday, November 6, under the provisions of the Prevention of Money Laundering Act (PMLA). The case pertains to financial irregularities in which fake bank guarantees were reportedly used to secure loans and other financial benefits. The ED has been investigating the money trail to determine the involvement of individuals and corporate entities in the alleged laundering of funds. Earlier, two other persons had been arrested in connection with the same case. Officials said the investigation is ongoing, and more actions are expected as authorities scrutinize transactions linked to Reliance Power. The probe highlights continued efforts by Indian agencies to tackle corporate financial fraud and ensure accountability under the stringent provisions of the PMLA.
