ED arrests Amar Nath Dutta in ₹68 crore fraud case involving forged bank guarantee.

The Enforcement Directorate has arrested Amar Nath Dutta in a ₹68.2 crore fraud case involving a forged bank guarantee submitted by Reliance NU BESS Ltd to SECI, allegedly causing over ₹100 crore in losses. This marks the third arrest, following those of former Reliance Power CFO Ashok Pal and Partha Sarathi Biswal of Biswal Tradelink Pvt. Ltd. The fake guarantee, purportedly from FirstRand Bank in Manila—where the bank has no branch—was part of a scheme using shell entities, forged documents, and spoofed email domains to mislead SECI. The ED, probing under PMLA, alleges a network of intermediaries received commissions and that funds were diverted through fake invoices. Reliance Power claims it was a victim and reported the fraud to authorities in October 2024. Dutta was remanded into four days of ED custody.