India, April 22 -- The Economic Offences Wing of Delhi Police has arrested the Chief Financial Officer (CFO) of Reliance Power Limited and two associates for allegedly submitting forged bank guarantees worth Rs 136.40 crore to a government agency in order to secure a tender, in a fraud that involved fake documents from foreign banks and fabricated confirmations falsely attributed to the State Bank of India.

The three arrested are Ashok Kumar Pal, 50, CFO of Reliance Power Ltd and a qualified chartered accountant who has been with the Reliance ADAG group since 2018;

Partha Sarthi Biswal, 54, Managing Director of Odisha-based Biswal Tradelink Pvt Ltd, who allegedly acted as an intermediary for arranging the forged guarantees; and Amarnath...