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India bars Anil Ambani firms from solar auctions over fake bank guarantee

The Solar Energy Corporation of India has barred Reliance Power Ltd. and its subsidiaries, part of Anil Ambani's group, from participating in auctions for three years. This decision follows allegations that a subsidiary submitted a fake bank guarantee for a recent battery storage tender, leading to the annulment of the tender for a 2,000 MWh project.
bloomberg.com
Reliance Power Limited IND Anil Ambani
Regulatory & Legal, News Article
14:11 07.11.2024
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