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

SECI on Reliance Power:  Solar Energy Corporation of India (SECI) has issued a tice ordering a three-year ban on Anil Ambani’s Reliance Power, barring company from any future tenders issued by SECI. 

“Reliance NU BESS Limited, and M/s Reliance Power Limited (including its subsidiaries) stand debarred from participating in all future tenders issued by SECI until 3 years from date of issuance of debarment tice,” said SECI in official tification.

Why Ambani’s Reliance Power was banned? 

In June, Solar Energy Corporation of India (SECI) invited bids for a 1-gigawatt solar power project and a 2-gigawatt standalone battery energy stor system. However, bidding process was cancelled at an vanced st due to irregularities found in bid submitted by Reliance NU BESS Ltd, a subsidiary of Reliance Power.

During bidding, Reliance NU BESS Ltd submitted a foreign bank guarantee accompanied by an email purportedly from State Bank of India ( SBI ) in support. However, SECI’s investigation revealed that SBI h t issued any such endorsement and that email was sent from a fraudulent dress. 

“Based on examination of documents submitted by Reliance NU BESS Limited, it was discovered that endorsement of Bank Guarantee against EMD (issued by a foreign Bank), as submitted by company, was fake,” SECI tification stated. 

As a result, government body barred company from participating in any future tender by SECI for three years stating, “It became imperative to debar Parent Company, i.e. M/s Reliance Power Limited from participating in future tenders issued by SECI.”