New Delhi/Bhubaneswar: After arresting Partha Sarathi Biswal, Managing Director of Biswal Tradelink Pvt Ltd (BTPL), the Enforcement Directorate is now preparing to bring him face-to-face with Anil Ambani for interrogation.
As per information, the investigating agency plans to bring Biswal face-to-face with Anil Ambani during the industrialist’s questioning on August 5 in the money laundering case linked to an alleged multi-crore bank loan fraud by Reliance ADAG group companies.
Biswal has been arrested by the ED for allegedly arranging fake bank guarantees worth `68.2 crore that were provided by Reliance Power Ltd for a Solar Energy Corporation of India Ltd (SECI) tender.
“Probe has revealed that BTPL fraudulently arranged and submitted fake bank guarantees of Rs 68.2 crores along with forged SBI endorsements and fabricated confirmations for a Solar Energy Corporation of India Limited (SECI) tender. For providing this bank guarantee, Rs 5.40 crore have been received by BTPL from Reliance Power Ltd,” the ED said in a statement.
The arrest comes seven days after the agency searched multiple locations in Mumbai linked to Ambani.
The ED is investigating allegations of illegal diversion of loans worth around `3,000 crore disbursed by Yes Bank to the group’s companies between 2017 and 2019. The probe agency is also examining whether there was a quid pro quo involved in the loan — specifically, if bribes were paid to bank officials, including Yes Bank promoters.
Besides summoning the industrialist for questioning, the ED has also issued a Look-out Circular (LOC) to prevent him from travelling abroad.
BTPL was also among the companies recently searched by the ED.
Biswal was arrested on August 1 and was produced before a Delhi court, which sent him to the agency’s custody till August 6.
An official of the ED said that the agency is planning to confront him with Anil Ambani during questioning and will try to verify some facts.
The ED initiated its investigation against the BTPL on the basis of an FIR registered by the Economic Offences Wing (EOW), Delhi Police, against BTPL, its directors and others, for allegedly providing fake bank guarantee, which was submitted to SECI.
