Arrest Made in Fraud Case Involving Fake Bank Guarantees for Solar Energy Tender

In a significant development, a fugitive accused of submitting a fraudulent bank guarantee worth ₹136.40 crores for a solar energy tender has been arrested in Bihar. The Economic Offences Wing of the Delhi police apprehended Shiv Shankar Das, who had been evading capture for months. The case, initiated by a complaint from the Solar Energy Corporation of India, involves serious allegations of forgery and conspiracy, including the use of fake bank guarantees and counterfeit documents. Investigators uncovered a complex web of deceit, leading to Das's arrest after extensive surveillance and searches across multiple cities. This case highlights the ongoing challenges in ensuring integrity in public sector tenders.

By Narendra Chaudhary Aug 4, 2026, 07:58 IST

Fraudulent Activities Uncovered in Solar Energy Tender

New Delhi, August 3 - A fugitive accused in a case involving the submission of a fraudulent bank guarantee worth ₹136.40 crores has been apprehended in Bihar, as reported by the Delhi police. The Economic Offences Wing (EOW) of the Delhi police arrested Shiv Shankar Das from Patna on July 27.

Das had been evading arrest for several months before being brought to Delhi in police transit custody. According to a statement, he is currently in judicial custody.

This case stems from a complaint filed by the Solar Energy Corporation of India (SECI), which operates under the Ministry of New and Renewable Energy. The complaint alleges that Reliance Power Limited's subsidiary, Reliance NUBESS Limited, submitted two fraudulent bank guarantees of ₹68.20 crores each during the tender process.

The EOW registered a First Information Report (FIR) in June 2025. As per the EOW, these bank guarantees were allegedly issued by foreign banks—ACE Investment Bank in Malaysia and First Rand Bank Limited in Manila, Philippines. To validate their authenticity, fake emails and counterfeit confirmations purportedly issued by the State Bank of India (SBI) were used.

However, SBI later denied issuing any such confirmations. The police allege that Das conspired with co-accused Ashok Kumar Pal, the Chief Financial Officer of Reliance Power Limited, along with Parthasarathi Biswal and Amarnath Dutta, to secure the SECI tender using forged bank guarantees, fake SBI support letters, counterfeit SFMS confirmations, and bogus seals and letterheads. Investigators revealed that Das created a fraudulent SBI email ID, which was allegedly used to authenticate the forged documents sent to SECI and company officials.

According to the statement, a financial investigation revealed that Das received ₹1.44 crores for his alleged role in this conspiracy. The EOW noted that Das was on the run and was subsequently declared a fugitive by a Delhi court. A police team monitored his activities through technical surveillance and conducted searches in several cities, including Kolkata, Medinipur, Asansol, and Mumbai, ultimately leading to his arrest in Patna.