Delhi High Court reinstates provisional attachment in Chotia Coal Block case against Prakash Industries
Prakash Industries announced that the Delhi High Court reinstated a provisional attachment of assets worth ₹227.95 crore in the Chotia Coal Block case, setting aside an earlier order that had quashed it. The company is seeking legal remedy.
The Delhi High Court's order reinstates the provisional attachment of assets worth approximately ₹227.95 crore, which includes some company land, creating significant legal and financial uncertainty. The company's stated intent to seek further legal remedy indicates a pending major issue.
The Delhi High Court's Division Bench set aside the earlier order that had quashed the provisional attachment of assets worth approximately ₹227.95 crore, reinstating the attachment related to the Chotia Coal Block allocation case, which is an adverse development for the company.
Prakash Industries Limited announced that the Hon'ble Division Bench of the Delhi High Court, vide its judgment dated 17th October 2025, has set aside an earlier order dated 19th July 2022. The previous order by a Learned Single Judge had quashed a provisional attachment order (PAO) dated 1st December 2021 related to proceedings initiated under the Prevention of Money Laundering Act, 2002 (PMLA) in the Chotia Coal Block allocation case. * The Directorate of Enforcement (ED) had filed an appeal challenging the Single Judge's order. * The Division Bench's judgment effectively reinstates the provisional attachment. * The ED had provisionally attached assets valued at approximately ₹227.95 crore. Out of this, land worth ₹32.66 crore is surplus land owned by Prakash Industries Limited, and the balance provisionally attached properties belong to the Promoter group. * As of the disclosure date, no financial compensation, penalty, or additional liability has been imposed by the Hon'ble High Court on the Company. * The Company states that there is currently no impact of the said order on its business operations. * Prakash Industries Limited is in the process of seeking legal remedy against the said order and will keep the exchanges informed of further developments in the matter. * The litigation also involves Shri Ved Prakash Agarwal, Promoter and Whole-Time Director (Designated as Chairman) of the Company, as one of the respondents.
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Prakash Industries Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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