Fino Payments Bank Limited has informed the Exchange about the receipt of the order by Hon'ble Court.
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Fino Payments Bank has informed exchanges that the Hon'ble City Civil & Sessions Court at Bengaluru has not accepted the Bank's application seeking removal of a ₹11.92 Crore lien marked by the Karnataka CID on the Bank's account. The CID lien is linked to an ongoing investigation into an incident reported by a Karnataka Government undertaking, where the accused allegedly used services of 4 merchants of the Bank. The Bank has clarified that neither it nor any of its employees are involved in the incident. The Bank will now challenge this order by filing an appeal before the High Court of Karnataka.
The ₹11.92 Crore remains frozen under the CID lien until the appeal outcome, which may pressure short-term liquidity and acts as a negative overhang on the stock, though the Bank maintains it is not at fault.