NEW DELHI: State-run renewable mission aggregator SECI on Tuesday withdrew its order banning Anil Ambani-led Reliance Power (R-Power) for three years from bidding for projects.
SECI had imposed the ban on grounds of its group entity, Reliance NU BESS, submitting allegedly invalid financial institution assure in one among its current tenders. The ban was imposed with out looking for R-Power’s response to the allegation, an argument the corporate had put forth whereas difficult the ban within the Delhi excessive courtroom.
“The company (R-Power) and its subsidiaries (except Reliance NU BESS) are eligible to participate in all tenders issued by SECI,” the mother or father stated in a press release.
R-Power had invoked the precept of pure justice and arguments that the mother or father firm or different group entities can’t be debarred due to an “issue” arising between the bidder subsidiary – Reliance NU BESS – and SECI. R-Power additional argued that SECI didn’t subject discover for the corporate’s response earlier than imposing the ban.
Staying the SECI ban imposed on Nov 6, the courtroom additionally ordered elimination of the general public discover, besides relating to Reliance NU BESS, from the SECI web site and set the following listening to for Dec 12.
The financial institution assure in query was purportedly issued by the FirstRand Bank by way of its department alleged to be positioned in Manila City (Philippines). But throughout SECI’s due diligence, nonetheless, the financial institution’s Indian department denied existence of any department in Manila City, prompting the company to conclude the corporate had submitted “fake documents”.
