Delhi High Court stays clean energy agency's bar on Anil Ambani firm over fake bank guarantee

New Delhi: The Delhi High Court has stayed clean energy agency SECI's decision to bar Anil Ambani group firm Reliance Power Ltd from participating in auctions for three years, the company said on Tuesday.

The Solar Energy Corporation of India (SECI) had earlier this month barred Reliance Power and its units from participating in auctions for three years over allegations of submitting a fake bank guarantee to support its bid for a recent battery storage tender.

"High Court of Delhi, in its hearing held today, has granted stay on notice of debarment and public notice issued by SECI against the company, including all its subsidiaries except Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited)," the firm said in a stock exchange filing.

Reliance NU BESS had submitted a bank guarantee purportedly issued by the FirstRand Bank through its branch supposed to be located in Manila City, Manila, the Philippines.

Upon detailed investigation, it was confirmed by the Indian branch of the above Bank that there does not exist any such branch of the bank in the Philippines, prompting SECI to conclude that the BG submitted was a fake document.

On November 6, SECI announced debarring Reliance Power and Reliance NU BESS from participating in SECI tenders for three years for submitting "fake documents".

Reliance Power said it had challenged the notice of debarment by SECI in the Delhi High Court.