Diamond Power Discharged in CBI & ED Cases; Assets Worth ₹1900 Cr Released
Diamond Power Infrastructure Limited has been discharged from CBI & ED cases, with assets worth ₹1000+ crore and receivables of ₹900+ crore released. The company received a clean chit in PMLA Case Nos. 2/2024. This legal clarity is expected to facilitate asset leverage for capital raising and improve operational flexibility.
The resolution of major legal encumbrances and the release of assets worth over ₹1900 crore are expected to significantly improve the company's financial flexibility, operational capacity, and overall growth prospects.
The company's discharge from significant legal cases (CBI & ED) and the release of substantial assets indicate a major positive development, paving the way for revival and future growth.
Diamond Power Infrastructure Limited has been discharged in matters initiated by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) in 2018. This significant milestone involves the release of the company's assets, including fixed assets valued at approximately ₹1000+ crore and receivables aggregating to ₹900+ crore. The company also received a clean chit in PMLA Case Nos. 2/2024.
The discharge order was pronounced by the Hon’ble Court of the Principal District & Sessions Judge, Ahmedabad, on May 6, 2026, and received by the company on May 7, 2026. This discharge follows earlier proceedings initiated in 2018, which led to the attachment of substantial fixed and current assets, materially impacting the company's operational and financial flexibility for several years.
Following the takeover and revival of the company under the Insolvency and Bankruptcy Code (IBC), the new management pursued legal remedies for discharge and release of assets. The Hon’ble Gujarat High Court had previously quashed and set aside relevant proceedings and actions.
The company expects this legal clarity to enable leveraging its fixed asset base for raising substantial working capital and long-term growth capital, as well as the realization of outstanding pre-NCLT receivables. With promoter fund infusion and these developments, the company anticipates accelerated operational expansion, enhanced confidence among stakeholders, and improved financial flexibility to utilize its manufacturing capacities and participate in new business opportunities.
Diamond Power Infrastructure Limited plans to expedite balancing equipment projects, debottlenecking initiatives, modernization programs, and expansion of ancillary infrastructure to enhance production efficiencies and support future growth. This development reinforces the "clean slate" principle under IBC and provides momentum for the company's next phase of growth.
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Diamond Power Infrastructure Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. 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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See the model portfoliosA plain-language summary of a public exchange filing by Diamond Power Infrastructure Limited. Read the original for the full detail.