Anil Ambani’s Reliance Power barred for three years from future tenders: SECI order - Details

SECI on Reliance Power: The Solar Energy Corporation of India (SECI) has issued a notice ordering a three-year ban on Anil Ambani’s Reliance Power, barring the company from any future tenders issued by the SECI. “Reliance NU BESS Limited, and M/s Reliance Power Limited (including its subsidiaries) stand debarred from participating in all the future tenders issued by SECI until 3 years from the date of issuance of the debarment notice,” said SECI in the official notification.Why Ambani’s Reliance Power was banned? In June, the Solar Energy Corporation of India (SECI) invited bids for a 1-gigawatt solar power project and a 2-gigawatt standalone battery energy storage system. However, the bidding process was cancelled at an advanced stage due to irregularities found in the bid submitted by Reliance NU BESS Ltd, a subsidiary of Reliance Power.During the bidding, Reliance NU BESS Ltd submitted a foreign bank guarantee accompanied by an email purportedly from the State Bank of India ( SBI ) in support. However, SECI’s investigation revealed that SBI had not issued any such endorsement and that the email was sent from a fraudulent address. “Based on the examination of documents submitted by Reliance NU BESS Limited, it was discovered that the endorsement of the Bank Guarantee against EMD (issued by a foreign Bank), as submitted by the company, was fake,” the SECI notification stated. As a result, the government body barred the company from participating in any future tender by SECI for three years stating, “It became imperative to debar the Parent Company, i.e. M/s Reliance Power Limited from participating in the future tenders issued by SECI.”

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Anil Ambani’s Reliance Power barred for three years from future tenders: SECI order - Details

As per the Solar Energy Corporation of India's (SECI) assessment the bank guarantee against EMD submitted by Reliance Power was fake.

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