The Solar Energy Corporation of India (SECI) has issued a show-cause notice to Reliance Power Ltd. for allegedly submitting a fake bank guarantee in a recent tender bid. The bid, submitted by Reliance NU BESS, a subsidiary of Reliance Power, was for the establishment of a 1,000 MW/2,000 MWh energy storage system. SECI’s investigation revealed that the bank guarantee, purportedly issued by FirstRand Bank’s Manila branch, was fraudulent, as no such branch exists in the Philippines. The company is accused of deliberately trying to manipulate the bidding process by submitting counterfeit documents.

In response, Reliance Power denied the allegations, claiming that it had fallen victim to a fraud conspiracy orchestrated by a third-party arranger. The company has already lodged a criminal complaint with the Economic Offence Wing of the Delhi Police, which led to an FIR being registered. SECI has warned that criminal proceedings may be initiated against both Reliance NU BESS and its parent company, Reliance Power, for their role in the fraudulent act. The case highlights the growing concern over the integrity of bidding processes in India's renewable energy sector.