Diamond Power Infrastructure Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 2.6 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Diamond Power Infrastructure Limited has received a favourable final judgment from the Principal District & Sessions Judge, Ahmedabad (designated Special Court under PMLA). The court has discharged the company in PMLA Case No. 2/2024. The case was originally filed by the Directorate of Enforcement under the Prevention of Money Laundering Act, connected to a CBI FIR from 2018. The company had already been discharged by the Gujarat High Court in related PMLA cases. With this order, no proceedings under PMLA remain pending against the company.
Positive development for shareholders - the company has been fully cleared of money laundering allegations with no penalties or ongoing proceedings, removing regulatory uncertainty around the stock.