(SECI) has issued a showcause notice to Anil Ambani-owned Reliance Power (RPower), seeking an explanation as to why criminal action should not be taken against the company for submitting "fake bank documents" through a bank that has no branch from which the documents originated.
"It is hereby intimated that SECI has issued showcause notices to the entities, namely Reliance Power and Reliance NU BESS, seeking an explanation as to why SECI should not initiate criminal proceedings against them, in view of the fraudulent and forged actions," said the agency in a public notice dated November 13. SECI operates under the aegis of the Ministry of New and Renewable Energy.
This follows SECI's recent decision to bar RPower from participating in any of its future tenders for three years after the company submitted a fake document for a tender issued by the state-run entity in June this year.
This story is from the November 15, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 15, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
At 122, harmful AQI days in 2024 six more than last year
Number of days with air AQI between 0 and 200 in Delhi has stood at 201 this year so far
Cricket's heavyweights pad up for pitch-perfect battle Down Under
\"Hello, and welcome to all our international viewers to the WACA Ground in Perth..,' For many, the understated, mellow Voice of Richie Benaud served as a window into a distant land where cricket was loud, aggressive, and played in colossal amphitheatre-like stadia.
Govt prepares logistics plan for metros to tackle traffic, pollution
The Centre has prepared a 'City Logistics Plan' for metros such as Delhi and Bengaluru for efficient freight and logistics movement within the city, a senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said on Wednesday.
NOT SO HOT ON HYBRID
A new report says EVs ancl CNG vehicles will outpace hybrids byfar
Voltas Well placed to improve market share
Analysts positive on volume-led growth that will reflect in stock price
Domestic business, lower guidance to weigh on PI Industries
PI Industries reported a revenue growth of 5 per cent year-on-year (Y-o-Y) in Q2FY25, led by a surge in the custom synthesis and manufacturing (CSM) segment and the export business, which posted 10 per cent growth.
CIEL HR files draft papers, eyes ₹335 crore via fresh issue
Chennai-based CIEL HR Services, which provides technology-driven human resources solutions, on Wednesday filed a draft red herring prospectus with markets regulator Sebi to raise funds through initial public offering (IPO).
Maharashtra poll results unlikely to move markets
The outcome of the Maharashtra Assembly elections is unlikely to shake domestic markets that have other bigger developments to worry about, according to analysts.
Period of easy returns now over, taper expectations: Motilal Oswal
The period of easy returns where rising tide lifts all boats is likely over, Motilal Oswal Private Wealth said in a recent note, citing the likelihood of a moderation in corporate earnings growth in the coming years.
SMEs voice concern over tighter IPO norms
Sebi has proposed an overhaul of SME IPO rules to curb fund diversion and malpractices
