Fino Payments Bank to Challenge Court Order on ₹11.92 Crore Lien Removal Plea
Fino Payments Bank will appeal a court order that denied its application to remove a ₹11.92 Crore lien. The lien was placed by CID in March 2025 related to an investigation involving bank merchants. The bank maintains no involvement of its employees or itself in the incident.
The ₹11.92 Crore lien and the ongoing litigation could potentially impact the bank's liquidity and operational standing, although the bank asserts no direct involvement.
The court did not accept the bank's application to remove the lien, and the bank has to file an appeal, indicating a negative development in the litigation.
Fino Payments Bank Limited announced on March 12, 2026, that it received an order dated March 4, 2026, from the Hon’ble XXIII Addl. City Civil & Sessions Judge & Special Judge (P.C. Act) at Bengaluru. The bank had filed an application in March 2025 to challenge a lien marked by the CID on ₹11.92 Crores in its bank account. This lien was related to an ongoing investigation where four of the bank's merchants were allegedly used by an accused. The bank emphasized that neither the bank nor its employees are involved in the incident.
However, the Hon’ble Court has not accepted the application filed by the Bank. Consequently, Fino Payments Bank Limited intends to challenge this order by filing an appeal before the High Court of Karnataka. The company secretary and compliance officer, Basavraj Loni, conveyed this information as per SEBI Listing Regulations.
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Fino Payments Bank 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 medium impact: worth reading, rarely worth acting on by itself.
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