Reliance Power to challenge SECI's ban, blames 3rd-party for fraud

Anil Ambani's Reliance Power said it will challenge the Solar Energy Corporation of India's (SECI) move to bar the company and its subsidiaries from bidding in future tenders for three years. The fake bank guarantees, cited by SECI as the reason behind the ban, were arranged by a third party, Reliance said. "We've been a victim of fraud," it added.