Speciality Restaurants: Enforcement Directorate provisionally attaches ₹14.50 Crore forfeited amount
Speciality Restaurants Limited's account has ₹14.50 Crore provisionally attached by the Directorate of Enforcement. The amount is forfeited upfront payment from warrant allotments. The company is not an accused and has no immediate operational impact.
While the company states there is no immediate impact on operations, the attachment of ₹14.50 Crore represents a material financial impact. The situation could lead to further legal complications and reputational damage.
The Enforcement Directorate has issued a provisional attachment order, which is a negative development for the company as a significant amount has been attached from its accounts.
Speciality Restaurants Limited has disclosed that the Directorate of Enforcement, Zonal Office, Raipur, has issued a provisional attachment order (PAO) dated September 25, 2026, under the Prevention of Money Laundering Act, 2002. This order directs the attachment of ₹14,50,09,700 from the company's account. The attachment is part of an ongoing investigation into a money laundering case and is set to remain in force for 180 days.
The attached amount represents a 25% upfront payment received by the company at the time of warrant allotment, which was subsequently forfeited due to the default of the allottees in paying the remaining 75% within the stipulated 18-month conversion period. The company has clarified that it is not named as an accused in the underlying predicate offense or the money laundering investigation. The PAO specifically pertains only to the forfeited amount.
Speciality Restaurants is consulting with its legal counsel to pursue available legal remedies. The company has stated that there is no immediate impact on its operations or other activities, with the financial impact being limited to the attached amount. The information will also be available on the company's website.
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