Delhi High Court Stays SECI's Ban on Reliance Power

The Delhi High Court has stayed SECI's decision to bar Reliance Power from auctions for three years due to alleged submission of a fake bank guarantee. The court's stay includes all subsidiaries except Reliance NU BESS. The fake document was purportedly issued by a non-existent bank branch.

The Delhi High Court has intervened in a dispute between SECI and Reliance Power, placing a stay on a three-year ban SECI had imposed on the company. The ban was in response to allegations of a fake bank guarantee submitted by a Reliance Power subsidiary.

SECI accused Reliance Power of employing a forged document purported to be from FirstRand Bank's non-existent branch in Manila. As a result, both Reliance Power and its subsidiary, Reliance NU BESS, were initially barred from participation in SECI tenders for battery storage projects.

However, Reliance Power has contested this decision in court, resulting in the temporary suspension of SECI's debarment notice. This legal development was disclosed in a stock exchange filing by the firm.

(With inputs from agencies.)