Press Release
DIACABS · price
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Diamond Power Infrastructure Limited has been fully discharged in CBI and Enforcement Directorate (ED) matters under the Prevention of Money Laundering Act (PMLA). The discharge order was passed by the Principal District & Sessions Judge, Ahmedabad (Special Court under PMLA) on May 6, 2026. The company was arrayed as an accused in 2018, and assets including Fixed Assets of Rs 1000+ Cr and Receivables of Rs 900+ Cr were attached by ED, significantly impacting operations. The company was subsequently revived under the Insolvency and Bankruptcy Code (IBC) by new management. Earlier, Gujarat High Court had quashed the relevant proceedings. With this discharge, the company expects to leverage its asset base for raising working capital, realize outstanding receivables, and accelerate operational expansion.
Positive development for shareholders as the legal overhang is resolved, enabling the company to access its previously frozen assets and receivables for growth and financial flexibility.