ED Probes Alleged Bank Guarantee Scam Involving Anil Ambani Group Firm

Speedy Summary

• The Enforcement Directorate (ED) conducted searches on August 1, 2025, targeting an odisha-based company accused of running a fake bank guarantee racket.
• the company under investigation is Biswal Tradelink, located in Bhubaneswar, and its directors. Allegations include providing a fraudulent ₹68 crore bank guarantee for Reliance Group’s subsidiary Reliance NU BESS Limited.
• This money laundering case stems from a November 2024 FIR filed by the Delhi Police Economic Offences Wing.
• ED searched three premises in Bhubaneswar and one in Kolkata linked to Biswal Tradelink.
• A criminal complaint against the accused was previously lodged by Reliance Power wiht the Delhi Police EOW in October 2024. According to a Reliance spokesperson, the company has been “a victim of fraud” in this matter.
• The Odisha-based entity allegedly charges an 8% commission for issuing fake guarantees and used forged interaction impersonating State Bank of india via a fraudulent email domain (s-bi.co.in).
• Investigators found suspicious financial transactions facilitated through undisclosed accounts associated with this paper entity. No official records were discovered at its registered office during searches; it was merely a residential address linked to relatives.
• Individuals involved reportedly used Telegram’s disappearing messages feature for concealing communications.

Indian Opinion Analysis

This investigation highlights concerns about financial integrity and cyber fraud affecting corporate operations within india. Allegations involving forged communication mimicking India’s largest lender, SBI, underline vulnerabilities that can severely influence business trust and regulatory frameworks. moreover, victimization claims by major corporations like Reliance Power emphasize risks arising from third-party contractor relationships that could impact industry-wide practices.

The revelation about forging email domains necessitates tighter cybersecurity protocols across institutions handling sensitive transactions like government agencies or private firms. india’s enforcement systems must consider revisions to ensure deterrence against such sophisticated methods of forgery alongside more stringent monitoring of paper companies involved in high-value transactions.

While due legal processes are unfolding with both ED and Delhi Police EOW actively pursuing various leads pertaining to other entities possibly entangled within this nexus of fraudulence-india’s regulatory apparatus will need deeper introspection into why enabling environments allow similar scams/misrepresentation networks unnoticed till considerable damages attach innocents their brands’ liability stress unengineered fornece adequate quicker resolutions ecosystem vigilance higher penetration oversight thoroughly imperative parties cookie system watchdog seeds-supervise-infoflow-thwart residual treks-tests—-& layered read adaptive Repeat refine sustainably Read repeat Thoughtbase r–quisites Test.Read more