Shares of Anil Ambani-led Reliance Power jumped 3.5% to their day’s high of Rs 37.74 on the BSE on Wednesday as the company got relief from the Delhi High Court granting a stay on SECI notice of debarment against the company.

On 6 November, Seci had barred Reliance Power and its subsidiary Reliance NU BESS from participating in tenders floated by the state-run entity for three years for submitting allegedly fake documents to win a contract.

The Solar Energy Corporation of India (SECI) has issued a showcause notice to Reliance Power and its subsidiary, Reliance NU BESS Ltd., questioning why criminal action should not be initiated against them following the submission of allegedly fake bank guarantees (BGs) in recent tender bids,

The Delhi High Court has stayed SECI's decision to bar Reliance Power from clean energy auctions for three years over a fake bank guarantee allegation.

The exception to this ruling applies to Reliance NU BESS Limited (formerly Maharashtra Energy Generation Limited), as clarified by the court.

The Delhi High Court has stayed SECI's three-year debarment of Reliance Power over allegations of a fake bank guarantee in a battery storage tender. SECI claimed the guarantee was issued by a non-existent bank branch.

Delhi High Court grants stay on SECI's debarment notice against Reliance Power, barring it from future tenders.