Reliance Power News: The Solar Energy Corporation of India (SECI) announced on Tuesday that it had withdrawn the ban notice it had issued to Reliance Power. As a result, the company, which is led by Anil Ambani, will be able to take part in future bids for public sector entities.

SECI is the implementing agency for renewable energy projects. On November 6, it barred Reliance Power Ltd and Reliance NU Base Ltd from taking part in any tender for three years.

On November 13, SECI issued a show cause notice to Reliance Power, which is run by Anil Ambani. It asked why criminal proceedings should not be initiated after its entity submitted fake bank guarantees.

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In a statement released on Tuesday, SECI said that the withdrawal of its sanction notice would not affect its right to take all actions permitted by law.

“Following the legal proceedings relating to the matter, the sanction notice issued to Reliance Power Ltd stands withdrawn immediately,” SECI said. It added that the November 6 notification had been modified to the extent mentioned above.

Meanwhile, Reliance Power said in a filing to the stock exchanges that it had received the SECI’s letter withdrawing the ban notice, "the Company and its subsidiaries, except Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited), are eligible to participate in all tenders issued by SECI"

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(With Agencies Inputs)