Browsing Tag

PMLA attachment

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In a significant ruling on February 23, 2026, the Bombay High Court overturned an interim stay, permitting Bank of Baroda, IDBI Bank, and Indian Overseas Bank to resume fraud-tagging proceedings against Anil Ambani over alleged fund diversion in Reliance entities. This comes as the ED continues its PMLA crackdown, having attached assets exceeding ₹12,000 crore, including the Ambani family's Pali Hill home in Mumbai.

Bombay High Court Overturns Interim Stay: Banks Can Proceed with Fraud Tagging Against Anil Ambani

In a significant ruling on February 23, 2026, the Bombay High Court overturned an interim stay, permitting Bank of Baroda, IDBI Bank, and Indian Overseas Bank to resume fraud-tagging proceedings against Anil Ambani over alleged fund diversion in Reliance entities. This comes as the ED continues its PMLA crackdown, having attached assets exceeding ₹12,000 crore, including the Ambani family’s Pali Hill home in Mumbai.
ED allows release of assets attached under PMLA to support insolvency resolution under IBC.

ED Allows Release of Attached Assets to Help IBC Resolution, Boost Recovery for Banks & Homebuyers

ED and IBBI introduce a unified mechanism allowing release of PMLA-attached assets for IBC resolution. This move is expected to unlock value in stalled insolvency cases and improve recovery for creditors and homebuyers.