Business News Desk, Gautam Adani’s name in the power sector is number 1 not only in India but in many countries. Adani Power The energy industry is strongly expanded. It has emerged as the largest power sector company. To compete with this, industrialist Anil Ambani was moving forward through solar power energy. Anil Ambani, who was recovering from the debt burden, has now been shocked by the Solar Energy Corporation of India (SECI). Anil Ambani’s Reliance Power Solar Energy has been banned for 3 years. Has been barred from participating in any tender process.
Many attempts were made to re-emerge after Anil Ambani’s companies sank. Meanwhile, an attempt was made by Reliance Power. Anil Ambani had tried his best to create the world’s largest demanding company through investment in the solar energy sector. During this time, Reliance Power had participated in the tender process called by SECI. The bank guarantee given during this period has proved to be fake.
Many bank accounts and transactions were frozen due to Anil Ambani’s debt. Some accounts were seized. During this time, Reliance Power had participated in the tender process by giving fake bank guarantee to SECI. There was every possibility that the solar energy tender would go to Reliance Power. But the documents were scrutinized in the final stage of the tender process. During this time, the bank guarantee given by Reliance Power was found to be fake. Due to giving fake bank guarantee by Reliance Power, the solar energy tender process has been suspended. Not only this, Reliance Power has been banned from participating in any tender process of the government for the next three years.
This is not the first mistake of Anil Ambani, recently SEBI had also banned Anil Ambani. Anil Ambani was banned from trading for 5 years by stock market regulator SEBI on charges of transferring money from Reliance Home Finance Limited to other places. With the help of key employees, Anil Ambani was accused of transferring the money of Reliance Home Finance Limited Company to other places. This money was used for other purposes. Taking loans from other companies was also revealed. SEBI had taken strict action due to violation of several rules including making false documents. A fine ranging from Rs 21 to 25 crore has been imposed on 24 companies. Additionally, the regulator has banned Reliance Home Finance from the securities market for 6 months and imposed a fine of Rs 6 lakh on it. Apart from this, SEBI has imposed a fine of Rs 25 crore on Ambani.
