India's top renewable energy agency has sent a notice to Anil Ambani-run Reliance Power, asking why it should not initiate criminal proceedings after a subsidiary of the power producer submitted fake documents for a bid,

The Solar Energy Corporation of India (SECI) has issued a showcause notice to Anil Ambani-owned Reliance Power, asking why it should not take criminal action against the company for submitting “fake bank documents” through a bank that has no branch from where the documents supposedly originated.

SECI has issued showcause notices to Reliance Power and its arm for submitting fake bank guarantees in bids, potentially leading to criminal action.

The debarment was due to fake bank guarantees submitted in the last round of bidding by Reliance NU BESS Ltd., earlier known as Maharashtra Energy Generation Ltd. Reliance NU BESS blamed a third party arranger for the fake bank guarantee claiming that it was itself a victim of fraud.

Reliance Power shares fell 5% to hit the lower circuit of ₹41.47 on November 8 after the Solar Energy Corporation of India barred the company and its subsidiary from SECI tenders for three years.

Solar Energy Corporation of India (SECI) has barred Reliance Power and its subsidiary Reliance NU BESS from participating in tenders floated by the state-run entity for 3 years.

Solar Energy Corporation of India Ltd. has barred Anil Ambani's Reliance Power Ltd. and its subsidiaries from bidding in future tenders for three years.

Renewable energy agency SECI has sent a show cause notice to Reliance Power, asking why criminal action not be taken against the company and its arm for submitting fake bank guarantees. Last week, Solar Energy Corporation of India barred Reliance Power and its arm from participating in its tenders.

India's top renewable energy agency has sent a notice to Anil Ambani-run Reliance Power, asking why it should not initiate criminal proceedings after a subsidiary of the power producer submitted fake documents for a bid,