Reliance Power shares hit 5% lower circuit after SECI debars co from its tenders for 3 years

November 8, 2024

Anil Ambani-led Reliance Power and its subsidiary, Reliance NU BESS, have been barred by SECI from participating in tenders for three years. This follows the submission of a “fake” bank guarantee document during a solar project bid. SECI discovered the discrepancy after the e-Reverse Auction, leading to the tender’s cancellation.

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