Reliance Power Ltd. and its subsidiaries, part of the Anil Ambani group, have been banned by the Solar Energy Corporation of India (SECI) from participating in future auctions for a period of three years.

This decision comes after allegations that one of the company's subsidiaries submitted a fraudulent bank guarantee in support of its bid for a recent battery storage tender.

The tender, which aimed to establish a 2,000 MWh battery storage project, has been annulled due to the discrepancies discovered after the bidding process.

SECI's announcement emphasizes the gravity of the violation and demonstrates the agency's commitment to upholding integrity in the bidding process for renewable energy projects.