01-08-2025
- Business
- New Indian Express
Explained: Why the ED is investigating a ₹68.2 crore fake bank guarantee tied to Anil Ambani Group
CHENNAI: Alongside the high-profile loan fraud case involving the Anil Ambani Group, Indian financial crime investigators have launched a fresh money laundering probe into the Group, this time focusing on a suspected fake bank guarantee racket worth Rs 68.2 crore. This probe follows an FIR filed by Delhi's Economic Offences Wing in November 2024, relating to a bogus guarantee submitted to the Solar Energy Corporation of India (SECI).
According to reports, the Enforcement Directorate conducted coordinated raids on four premises linked to a little-known firm, Biswal Tradelink Pvt Ltd—three in Bhubaneswar and one in Kolkata—on Thursday evening.
ED officials say the fake bank guarantee was issued in the name of Reliance NU BESS Limited and Maharashtra Energy Generation Limited, both connected to the Ambani group. The guarantee was entirely forged and backed by counterfeit communications designed to impersonate the State Bank of India. Fraudsters reportedly used a spoofed domain ('s‑ mimicking the genuine SBI domain (' to deceive SECI.
