Corporate Shocker: Reliance Power CFO Ashok Kumar Pal Busted in ₹68 Crore Fake Guarantee Scandal
Dawn cracks over Mumbai’s skyline like a judge’s gavel on October 11, 2025, as Enforcement Directorate sleuths storm Reliance Power’s gleaming headquarters, their boots echoing like doom’s drumbeat. In a heartbeat that freezes boardrooms nationwide, they cuff Chief Financial Officer Ashok Kumar Pal in a jaw-dropping Reliance Power CFO arrest, ripping the veil off a venomous ED fake bank guarantee scam that’s poisoned the veins of an India money laundering case 2025 with ₹68 crore in phantom promises.
The plot uncoils like a thriller from the shadows: Pal, the silver-haired wizard of ledgers, allegedly wove a labyrinth of lies with shadowy financiers, conjuring fake guarantees from ghost accounts to lure loans like moths to a fatal flame and inflate balance sheets bloated with debt. It all ignited from a whistleblower’s spark in early 2025—a consortium cry from Yes Bank and kin—unmasking ties to Reliance Communications’ earlier inferno, where Anil Ambani’s empire teetered on ₹20,000 crore of sleight-of-hand sins. Dragged before a Delhi courtroom that very afternoon, Pal’s steely gaze cracks under the ED’s glare; two days in custody await, with whispers of a domino cascade of arrests in this corporate fraud Reliance maelstrom.
Under the iron fist of the Prevention of Money Laundering Act, this raid isn’t just a bust—it’s a clarion roar in Modi’s war on white-collar wolves, where fortunes forged in fraud dissolve like mist at dawn. The markets convulse in sympathy: Reliance Power’s shares hemorrhage 8%, a crimson ₹500 crore scar on the BSE’s face, as investors scatter like startled pigeons.
Feel the tremor? Picture executives glancing over shoulders in dimly lit offices, SEBI’s hounds baying for tighter leashes. As the Enforcement Directorate investigation claws deeper, unearthing buried bones, it begs the blistering query: In the glittering towers of Indian power, how many more Ashok Kumar Pals lurk, pulling strings from the dark? The empire’s facade crumbles—will justice’s floodlight spare no shadow?
