Diamond Power Infrastructure Limited has informed the Exchange regarding a press release dated May 08, 2026, titled "Diamond Power discharged in CBI & ED / PMLA Matters; Major Milestone in release of company s assets worth approximate to Rs 1000+ Cr. & receivables approximate to Rs 900+ Cr. paving way for Companies Revival and Future Growth".
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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 been fully discharged by a Special Court under the PMLA Act in Case No. 2/2024, with the order pronounced on May 6, 2026 and received by the company on May 7, 2026. The company was initially implicated in CBI and ED proceedings dating back to 2018, which led to attachment of fixed assets valued at approximately Rs 1,000+ crore and receivables of Rs 900+ crore, severely impacting operations. The company was also taken over by new management under the Insolvency and Bankruptcy Code (IBC) for revival. Following the Gujarat High Court earlier quashing the proceedings, the Trial Court has now discharged the company as an accused, freeing up assets and enabling revival plans. The company plans to leverage its asset base for raising working capital and pursuing growth opportunities.
This is a highly positive development for shareholders as the company clears a major legal overhang that has constrained operations since 2018. With assets worth nearly Rs 1,900 crore now unencumbered, the company can access financing, realize receivables, and accelerate capacity utilization and expansion, potentially improving profitability and stock valuations.