Reliance Power And Reliance NU BESS Debarred From SECI Tenders For Three Years Following Fake Bank Guarantee Submission

Reliance Power Limited and its subsidiary, Reliance NU BESS Limited, have been debarred from participating in future tenders issued by the Solar Energy Corporation of India (SECI) for three years. This decision follows an investigation into the company’s submission of a fake bank guarantee as part of their bid for SECI’s 1000 MW/2000 MWh Standalone Battery Energy Storage System (BESS) projects. The tender, issued under SECI’s competitive bidding process, required bidders to submit a bank guarantee as part of their Earnest Money Deposit (EMD). However, it was discovered that the guarantee provided by Reliance NU BESS Limited was not genuine.

The discrepancy came to light after the e-Reverse Auction was completed, leading SECI to annul the entire tender process. According to the tender conditions, submitting a false document disqualifies the bidder from participating in future tenders issued by SECI. Since Reliance NU BESS Limited is a subsidiary of Reliance Power Limited, and the parent company’s financial standing was used to meet the qualification requirements, the debarment was extended to both entities.

SECI’s decision to debar the two companies from future tenders for three years is based on the violation of trust and failure to adhere to the rules set out in the tender process. The debarment will prevent Reliance Power Limited and Reliance NU BESS Limited, along with any of its subsidiaries, from participating in any upcoming tenders from SECI during this period. The decision underscores the importance of transparency and integrity in the tendering process.