The complaint also names two former Tata Power employees, who have been accused of leaking confidential company information. Mumbai Police has registered a case and initiated an investigation into the allegations.
The alleged fraud revolves around a proposed deal involving a coal mine and mining licences in Russia. According to the complaint, Kleros Capital Partners and its directors allegedly misled Tata Power and conspired to defraud the company. The role of two former employees is also under scrutiny, with allegations that they leaked confidential information belonging to Tata Power.
Another significant aspect of the complaint concerns an arbitration proceeding in Singapore. The allegations state that the dispute resulted in an order against Tata Power in Singapore arbitration, directing the company to pay 0 million, equivalent to approximately ₹4,800 crore, in compensation.
In addition, the company allegedly suffered further losses of around ₹95 crore. The complaint has raised serious allegations regarding the financial impact of the transactions and the circumstances that led to the compensation order.
The complaint filed with Mumbai Police reportedly covers events that took place between April 2013 and November 2026. The FIR has been registered under Sections 316(4), 316(5), 318(4) and 61(2) of the Bharatiya Nyaya Sanhita (BNS). These provisions relate to allegations involving cheating, criminal breach of trust and criminal conspiracy.
Following Tata Power's complaint, Mumbai Police has registered an FIR against eight accused and launched an investigation. The police will examine how the alleged fraud involving the Russian coal mine and mining licences was carried out, the roles played by the individuals involved and the allegations surrounding the financial losses suffered by the company.
The allegations remain part of the complaint, and the investigation is ongoing. The findings of the police investigation will establish the circumstances surrounding the disputed transaction and the responsibility of those named in the case.
Meanwhile, Tata Power shares were trading at ₹357, up 0.5%, on Wednesday afternoon. The stock has recorded a 52-week high of ₹464 and a 52-week low of ₹333.
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