(source : ANI) ( Photo Credit : ani)
New Delhi – The Delhi Chief Minister’s office received an urgent notification from Reliance Power on Friday. Ashok Kumar Pal, the company’s Executive Director and Chief Financial Officer, was taken into custody by the Enforcement Directorate (ED) late last night on charges under the Prevention of Money Laundering Act (PMLA). Pal stepped down from his post immediately as the investigation unfolds.
Reliance Power had already warned investors on November 7 and 14, 2024 that it was filing a criminal complaint with the Economic Offence Wing of Delhi Police. The complaint accused a third party of forging a bank guarantee related to an equity‑linked mortgage deposit (EMD) issued by a foreign bank. An FIR was registered on November 11, 2024, and the company says it has been a victim of fraud and forgery.
The ED’s arrest came after the court granted the agency two‑day custody following a Special Judge’s order. Pal will appear at Patiala House Court on Monday. While the matter remains under scrutiny, Reliance Power’s board confirmed that Anil D. Ambani has not served on the company’s board for more than three and a half years and is unrelated to the case.
The company has pledged to cooperate fully and take all necessary legal steps as it works through the investigation. Investors and shareholders have been updated via the stock exchanges, which will keep trading on the sidelines until more information emerges.
Source: aninews
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
