1 week ago
Mumbai Court Allows ₹33.02 Crore Choksi Rental Income Fixed Deposit
A court in Mumbai decided what to do with ₹33.02 crore earned as rent.
The money came from a store in a Kolkata mall.
The store is connected to a money-laundering case involving Mehul Choksi.
ICICI Bank asked to put the money into a fixed deposit.
A fixed deposit could earn interest instead of leaving the money idle.
The Enforcement Directorate did not object to this plan.
However, it said the money must not be used until the case is finally decided.
The court also barred ICICI Bank from using the money to recover any claimed dues.
A Mumbai special PMLA court allowed ICICI Bank’s plea involving ₹33.02 crore in rental income.
The income came from a Kolkata mall store attached in the money-laundering case against Mehul Choksi.
ICICI Bank sought to transfer the funds into a fixed deposit held in the court’s name.
The Enforcement Directorate gave no objection, provided the money remained untouched until final disposal.
The fixed deposit cannot be subject to ICICI Bank’s lien, set-off, appropriation or adjustment against dues.
- Who
- ICICI Bank, the Enforcement Directorate and Mehul Choksi are involved; the Mumbai special PMLA court issued the order.
- What
- The court allowed ₹33.02 crore in rental income to be placed in a fixed deposit in the court’s name.
- Where
- The order was issued in Mumbai; the rental income came from a store in a Kolkata mall.
- When
- August 25, 2026.
- Why
- The court said placing the money in a fixed deposit could earn interest for the beneficiary instead of leaving it idle.
Key facts
- Amount
- ₹33.02 crore
- Income source
- Rental income from a store in a Kolkata mall
- Case connection
- Properties attached in the money-laundering case against Mehul Choksi
- Applicant
- ICICI Bank
- Court condition
- The fixed deposit must be held in the name of the Special Court, PMLA Special Case No. 9/2018.
- Use restriction
- The funds cannot be transferred or used until final disposal of the matter.
- Bank restriction
- ICICI Bank cannot impose a lien, set-off, appropriation or adjustment against claimed outstanding dues.
Quotes
Mumbai special PMLA court
The court that authorized placement of the rental income in a fixed deposit.
“the huge amount of Rs 33.02 crores is lying in the aforesaid account and it would be appropriate to allow the applicant keep the said amount in fixed deposits so that, the accrued interest will benefit the beneficiary.”
freepressjournal.in
“If the said amount is kept as it is in the aforesaid account, then the beneficiary would suffer by huge loss of interest.”
freepressjournal.in
Sources
Related news
Chhattisgarh High Court Rejects Plea To Replace ED-Attached Properties
ED Freezes Rs 51.75 Crore Deposit in DHFL Fraud Probe
Mumbai PMLA Court Orders Restoration of ₹393.79 Crore ED-Attached Assets
Madhya Pradesh High Court Grants Bail To Former RTO Constable
Bombay HC says Vijay Mallya asset dispute should end
Bombay High Court Grants Medical Bail in Haryana Money-Laundering Case
India Draws Record $127 Billion Through Special FCNR Window
Major Banks Cut FCNR Deposit Rates After Subsidy Ends
MP High Court Orders SBI Account Unfrozen, Holds Disputed Funds
ICICI Bank Nears HDFC Bank as Nifty’s Top Influence
ICICI Bank Mobilises $17.88 Billion Under RBI Swap Facility
