New Delhi, November 7: Reliance Power Ltd and Reliance NU BESS Ltd have been debarred from participating in SECI tenders for three years for allegedly submitting "fake documents", as per an official document.

In a note, SECI said, "based on the examination of documents submitted by Maharashtra Energy Generation, now known as Reliance NU BESS (for a project), it was discovered that as per the tender requirements, the endorsement of the Bank Guarantee against EMD (issued by a foreign Bank), as submitted by the Bidder, was fake. Niva Bupa IPO: SEBI Gives Final Approval to Health Insurance Firm To Raise INR 3,000 Crore Through Initial Public Offering.

The issue is related to the RfS issued by SECI for setting up of 1000 MW/2000 MWh Standalone BESS Projects under Tariff based competitive bidding, vide RfS No. SECI/C&P/IPP/15/0009/24-25 dated June 26, 2024 including its subsequent amendments and clarifications. Since the above discrepancy was discovered subsequent to the e-Reverse Auction, SECI was constrained to annul the tendering process.

SECI said it has debarred Reliance Power Reliance NU BESS from participating in tenders issued for a period of three years. As per the tender conditions, the above submission of a fake document as part of its response to RfS, rendered the Bidder eligible for debarment from future tenders issued by SECI. Reliance Bonus Share Record Date: When Will Mukesh Ambani-Led Company Announce Ex-Date for Its 1:1 Bonus? Check Latest Reports.

The Bidder, being a subsidiary of Reliance Power Limited, had met the Financial Qualification Requirements using the strength of its Parent Company. Upon detailed examination of the matter, it was found logical to conclude that all the commercial and strategic decisions undertaken by the Bidder were fundamentally driven by the Parent Company. Thus, it became imperative to debar the Parent Company which is Reliance Power Limited from participating in future tenders issued by SECI.

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